Screen LibraryInflation targeting : lessons from the international experience /
How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency. In recent years a promising new approach has emerged: publi...
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| Group Author: | ; ; ; |
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| Published: |
Princeton University Press,
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| Publisher Address: | Princeton, NJ : |
| Publication Dates: | [1999] |
| Literature type: | Book |
| Language: | English |
| Subjects: | |
| Summary: |
How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency. In recent years a promising new approach has emerged: publicly announcing and pursuing specific targets for the rate of inflation. This book is an in-depth study of inflation targeting. Combining penetrating theoretical analysis with detailed empirical studies of countries where inflation targeting has been adopted, the authors show that the strategy has clear advantages over traditional policies. They argue that the U.S. Federal Reserve and the European Central Bank should adopt this strategy, and they make specific proposals for doing so. |
| Carrier Form: | x, 382 pages : illustrations ; 24 cm |
| Bibliography: | Includes bibliographical references (pages [355]-365) and index. |
| ISBN: |
9780691086897 0691086893 9780691059556 0691059551 |
| Index Number: | HG229 |
| CLC: | F820.5 |
| Call Number: | F820.5/I432-3 |
| Contents: | 1. Introduction -- 2. The rationale for inflation targeting -- 3. Issues of design and implementation -- 4. German and Swiss monetary targeting: precursors to inflation targeting -- 5. New Zealand: inflation-targeting pioneer -- 6. Canada: inflation targets as tools of communication -- 7. United Kingdom: the Central Bank as counterinflationary conscience -- 8. Sweden: searching for a nominal anchor -- 9. Three small open economies: Israel, Australia, and Spain -- 10. Inflation targeting: how successful has it been? -- 11. What have we learned? -- 12. Inflation targeting for the United States and the European Monetary Union. |