Inflation Targeting as a Stabilisation Tool: Its Design and Performance in the Czech Republic
The article focuses on the development and performance of the Inflation Targeting regime in the Czech Republic. It is shown that the regime design evolved throughout time from a rather specific setting towards a framework based on international best practices. The performance of IT is evaluated using three different methods. The results suggest that even though the inflation targets have been missed more often than met, the Inflation Targeting framework significantly contributed to the stabilisation of the Czech economy.
|Date of creation:||07 Oct 2003|
|Date of revision:|
|Note:||Type of Document - Acrobat PDF; prepared on IBM PC; to print on A4; pages: 21 ; figures: included|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nicoletta Batini & Richard Harrison & Stephen P Millard, 2001.
"Monetary policy rules for an open economy,"
Bank of England working papers
149, Bank of England.
- Batini, Nicoletta & Harrison, Richard & Millard, Stephen P., 2003. "Monetary policy rules for an open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 27(11-12), pages 2059-2094, September.
- Batini, Nicoletta & Harrison, Richard & Millard, Stephen P., 2003. "Monetary policy rules for an open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 27(11), pages 2059-2094.
- Nicoletta Batini & Richard Harrison & Stephen P. Millard, 2001. "Monetary policy rules for an open economy," Proceedings, Federal Reserve Bank of San Francisco, issue Mar.
- Stephen G. Cecchetti & Michael Ehrmann, 2002.
"Does Inflation Targeting Increase Output Volatility?: An International Comparison of Policymakers' Preferences and Outcomes,"
Central Banking, Analysis, and Economic Policies Book Series,
in: Norman Loayza & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.), Monetary Policy: Rules and Transmission Mechanisms, edition 1, volume 4, chapter 9, pages 247-274
Central Bank of Chile.
- Stephen Cecchetti & Michael Ehrmann, 2000. "Does Inflation Targeting Increase Output volatility? An International Comparison of Policy Maker's Preferences and Outcomes," Working Papers Central Bank of Chile 69, Central Bank of Chile.
- Stephen G. Cecchetti & Michael Ehrmann, 1999. "Does Inflation Targeting Increase Output Volatility? An International Comparison of Policymakers' Preferences and Outcomes," NBER Working Papers 7426, National Bureau of Economic Research, Inc.
- Neumann, Manfred J. M. & von Hagen, Jürgen, 2002.
"Does inflation targeting matter?,"
ZEI Working Papers
B 01-2002, ZEI - Center for European Integration Studies, University of Bonn.
- Jarkko Soikkeli, 2002. "The Inflation Targeting Framework in Norway," IMF Working Papers 02/184, International Monetary Fund.
- Cukierman, Alex, 2001.
"Are Contemporary Central Banks Transparent about Economic Models and Objectives and What Difference Does it Make?,"
Discussion Paper Series 1: Economic Studies
2001,05, Deutsche Bundesbank, Research Centre.
- Alex Cukierman, 2002. "Are contemporary central banks transparent about economic models and objectives and what difference does it make?," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 15-36.
- Lavan Mahadeva & Katerina Smidkova, 2001.
"What Is the Appropriate Rate of Disinflation to Be Targeted in the Czech Economy?,"
Archive of Monetary Policy Division Working Papers
2001/33, Czech National Bank.
- Lavan Mahadeva & Katerina Smidkova, 2003. "What is the Appropriate Rate of Disinflation to Be Targeted in the Czech Economy?," Macroeconomics 0303015, EconWPA.
- Laurence Ball & Niamh Sheridan, 2003.
"Does Inflation Targeting Matter?,"
NBER Working Papers
9577, National Bureau of Economic Research, Inc.
- Sutherland, Alan, 2001. "Inflation Targeting in a Small Open Economy," CEPR Discussion Papers 2726, C.E.P.R. Discussion Papers.
- Professor Lars E O Svensson, 2001. "Independent review of the operation of monetary policy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, March.
- Athanasios Orphanides & David W. Wilcox, 1996.
"The opportunistic approach to disinflation,"
Finance and Economics Discussion Series
96-24, Board of Governors of the Federal Reserve System (U.S.).
- Michal Skorepa & Viktor Kotlan, 2003.
"Inflation Targeting: To Forecast or to Simulate?,"
Research and Policy Notes
2003/01, Czech National Bank, Research Department.
- Kuttner, Kenneth N. & Posen, Adam S., 1999.
"Does talk matter after all? Inflation targeting and central bank behavior,"
CFS Working Paper Series
1999/04, Center for Financial Studies (CFS).
- Kenneth N. Kuttner & Adam S. Posen, 1999. "Does talk matter after all? Inflation targeting and central bank behavior," Staff Reports 88, Federal Reserve Bank of New York.
- Kenneth N. Kuttner & Adam S. Posen, 1999. "Does Talk Matter After All? Inflation Targeting and Central Bank Behavior," Working Paper Series WP99-10, Peterson Institute for International Economics.
- Miroslav Hrncir & Katerina Smidkova, 2003.
"The Czech Approach to Inflation Targeting,"
- Martin Èihák & Tomáš Holub, 1998. "Cílování inflace v ÈR: staré víno v nových lahvích (Inflation Targeting in the CR: Old Wine in New Bottles)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 48(4), pages 223-236, April.
- A. Senhadji Semlali & Mohsin S. Khan, 2000.
"Threshold Effects in the Relationship Between Inflation and Growth,"
IMF Working Papers
00/110, International Monetary Fund.
- By Mohsin S. Khan & Abdelhak S. Senhadji, 2001. "Threshold Effects in the Relationship Between Inflation and Growth," IMF Staff Papers, Palgrave Macmillan, vol. 48(1), pages 1.
- Pierre L. Siklos, 1999. "Inflation-target design: changing inflation performance and persistence in industrial countries," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 46-58.
- Papa M'B. P. N'Diaye & Douglas Laxton, 2002. "Monetary Policy Credibility and the Unemployment-Inflation Tradeoff; Some Evidence From 17 Industrial Countries," IMF Working Papers 02/220, International Monetary Fund.
- Chorng-Huey Wong & Eric V. Clifton & H. L. Leon, 2001. "Inflation Targeting and the Unemployment-Inflation Trade-Off," IMF Working Papers 01/166, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:0310006. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.