Screen LibraryTwenty years of inflation targeting : lessons learned and future prospects /
There is now a remarkably strong consensus among academics and professional economists that central banks should adopt explicit inflation targets and that all key monetary policy decisions, especially those concerning interest rates, should be made with a view to ensuring that these targets are achi...
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| Literature type: | Book |
| Language: | English |
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| Summary: |
There is now a remarkably strong consensus among academics and professional economists that central banks should adopt explicit inflation targets and that all key monetary policy decisions, especially those concerning interest rates, should be made with a view to ensuring that these targets are achieved. This book provides a comprehensive review of the experience of inflation targeting since its introduction in New Zealand in 1989 and looks in detail at what we can learn from the past twenty years and what challenges we may face in the future. Written by a distinguished team of academics and |
| Carrier Form: | xv, 451 p. : ill. ; 23 cm. |
| Bibliography: | Includes bibliographical references and index |
| ISBN: |
9781107696891 (paperback) : 1107696895 (paperback) 9780521768184 (hardback) 0521768187 (hardback) |
| Index Number: | HG1480 |
| CLC: | F826.125 |
| Call Number: | F826.125/T971 |
| Contents: |
1. Introduction David Cobham, Øyvind Eitrheim, Stefan Gerlach and Jan Qvigstad; 2. Welcome remarks: a Norwegian perspective Jan F. Qvigstad; 3. Reflections on inflation targeting Athanasios Orphanides; 4. Inflation targeting at 20: achievements and challenges Scott Roger; 5. Inflation targeting twenty years on: where, when, why, with what effects, what lies ahead? Klaus Schmidt-Hebbel; 6. How did we get to inflation targeting and where do we need to go to now? A perspective from the US experience Daniel L. Thornton; 7. Inflation control around the world: why are some countries more successf 10. The optimal monetary policy instrument, inflation versus asset price targeting, and financial stability Charles Goodhart, Carolina Osorio and Dimitrios Tsomocos; 11. Expectations, deflation traps and macroeconomic policy George Evans and Seppo Honkapohja; 12. Heterogeneous expectations, learning and European inflation dynamics Anke Weber; 13. Inflation targeting and private sector forecasts Stephen Cecchetti and Craig Hakkio; 14. Inflation targeting, transparency and inflation forecasts: evidence from individual forecasters Christopher Crowe; 15. Gauging the effectiveness of quantitative 19. The financial crisis as an opportunity to strengthen inflation targeting frameworks Hans Genberg; 20. Leaning against the wind is fine, but will often not be enough Lars Heikensten; 21. Inflation targeting, capital requirements and 'leaning against the wind': some comments Sushil Wadhwani |