Inflation Targeting in Practice
In recent years, an inflation targeting framework for monetary policy has been adopted in a number of industrial countries. This paper discusses the practical issues that have arisen under the operation of the new framework, and highlights five features of the framework: the assignment of the target, the interaction with other policy goals, the definition of the target, accountability and the role of inflation forecasts. The economic performance of the inflation targeting countries thus far is summarized.
|Date of creation:||01 Mar 1997|
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NBER Working Papers
5469, National Bureau of Economic Research, Inc.
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"Measuring Core Inflation,"
NBER Working Papers
4303, National Bureau of Economic Research, Inc.
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- Miguel A. Savastano & Paul R. Masson & Sunil Sharma, 1997. "The Scope for Inflation Targeting in Developing Countries," IMF Working Papers 97/130, International Monetary Fund.
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