منابع مشابه
Discussion of Inflation Targeting and Japan: Why has the Bank of Japan not Adopted Inflation Targeting?
This paper argues that the Bank of Japan shrank from doing the right thing because it required the adoption of unconventional policies that might lose the Bank its newly acquired independence. Taka Ito frankly recognises that this argument has a problem: the Bank of Japan adopted two and a half of the recommended unconventional policies: increasing excess reserves, buying government bonds and b...
متن کاملCOMMENTARY Why the Federal Reserve Should Not Adopt Inflation Targeting
Inflation targeting has become one of the most significant developments of recent decades in both the theory and the practice of monetary policy. A rapidly expanding literature has analysed the a priori properties of various ‘inflation targeting’ strategies, and an increasing number of central banks around the world – the Bank of Canada, the Bank of England, the Swedish Riksbank, and numerous o...
متن کاملIs Inflation Targeting Best-Practice Monetary Policy?
natives, such as the current practices at central banks around the world. Of course, the ITF community is now large and varied. We focus mainly on the industrialized countries. One might say that we consider the role of the ITF in a low-inflation steady-state and do not address the important question of how it might help in reaching such a steady-state. In much of the paper we seek to highlight...
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 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: Research in Applied Economics
سال: 2020
ISSN: 1948-5433
DOI: 10.5296/rae.v12i1.16679