منابع مشابه
Bandwidth, bandlength, and inflation targeting: some observations
Central banks announce specific inflation targets to help anchor inflation expectations and to raise the level of monetary policy credibility (see Debelle and Stevens (1995)). Generally, however, it is argued that in setting inflation targets, there is a trade-off between credibility and flexibility. Targets also provide a yardstick against which the central bank’s success can be measured, allo...
متن کاملInflation Targets and Inflation Targeting
There is widespread agreement that price stability (in practice, low and stable inflation) should be an objective of monetary policy. This agreement is reflected both in the mandates set for monetary policy by governments and in the practice of central banks. Several other important questions about the objectives for monetary policy are less settled: Should there be other objectives? If there a...
متن کاملSome Lessons From Inflation Targeting in New Zealand
1 The material presented here draws heavily upon the Bank's internal review of the 1991-1998 business cycle, and papers that have been prepared by the Bank for the Independent Review of the Operation of Monetary Policy in New Zealand, which is being conducted by Professor Lars Svensson at the current time. These papers may be obtained at Any remaining errors and omissions are the sole responsib...
متن کاملSome Lessons from Six Years of Practical Inflation Targeting
This paper discusses some of my lessons from six years of practical inflation targeting as a policy maker at the Riksbank (May 21, 2007-May 20, 2013). They are lessons mainly for Sweden, with its small very open economy and its special financial sector, since one thing I have learnt is that things are very different in different economies. The lessons may thus apply to varying degrees for other...
متن کاملInflation Targeting
Inflation targeting is a monetary-policy strategy that was introduced in New Zealand in 1990, has been very successful in terms of stabilizing both inflation and the real economy, and as of 2007 had been adopted by more than 20 industrialized and non-industrialized countries. It is characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major ...
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ژورنال
عنوان ژورنال: The Scandinavian Journal of Economics
سال: 1999
ISSN: 0347-0520,1467-9442
DOI: 10.1111/1467-9442.00160