Discussion of The Case for Inflation Targeting in East Asian Countries
نویسنده
چکیده
Guy Debelle’s paper makes a strong case for the adoption of an inflation-targeting framework by east Asian countries. This is in stark contrast to the conclusion reached by Masson, Savastano and Sharma (1997), who claim that for most developing countries, inflation targeting is not suitable because central banks lack the ability to conduct an independent monetary policy, their inflation forecasting models are highly uncertain and the inflation objective is subordinated to an exchange rate goal. In the present paper, the author claims that some of these problems apply to any alternative monetary policy framework and others were also present when developed countries first adopted inflation targeting. Therefore, the author concludes that for most east Asian countries inflation targeting is a viable alternative.
منابع مشابه
The Case for Inflation Targeting in East Asian Countries
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