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Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets [PDF]
SSRN Electronic Journal, 1997 The paper discusses the implementation of inflation-targeting across countries. It argues that the intermediate variable under an inflation target is, in effect, the inflation forecast. Such a regime is shown to confer benefits over other regimes, such as money and exchange rate targeting: in terms of the efficient implementation of policy; in terms of
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Inflation targeting and inflation performance: a comparative analysis
Applied Economics, 2013 This article examines how the impact of inflation targeting on inflation performance depends on the choice of country samples, adoption dates, time periods and methodological approaches. We apply two different estimation methods - difference-in-differences and propensity score matching - for our sample of 25 advanced and 59 emerging and developing ...
Samarina, Anna +2 more
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Monetary Policy Rule under Inflation Targeting in Mongolia
East Asian Economic Review, 2018 This article aims to review the monetary policy rule under inflation targeting framework focusing on Mongolia. The empirical analysis estimates the policy reaction function to see if the inflation targeting has been linked with a monetary policy rule ...
Hiroyuki Taguchi, Saitama University
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Inflation Targeting: A Critical Appraisal [PDF]
SSRN Electronic Journal, 2003 Since the early 1990s, a number of countries have adopted Inflation Targeting (IT) in an effort to reduce inflation. Most literature has praised IT as a superior framework of monetary policy. We suggest that IT is a major policy prescription closely associated with the New Consensus Macroeconomics (NCM). Focusing mainly on the IT aspects of the NCM, we
Philip Arestis, Malcolm Sawyer
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INFLATION AND ECONOMIC GROWTH TRENDS: GLOBAL AND SOUTH AFRICAN PERSPECTIVES
Acta Economica, 2023 This paper explores the global inflation and economic growth trends, with a special focus on South Africa, from the 1970s – the period marked by the crumbling of the Bretton Woods system and the ensuing stagflation – to 2022. Our exploration reveals that
Shelton Mandeya, Sin-Yu Ho
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Asymmetry in Inflation Targeting
SSRN Electronic Journal, 2017 Following the world financial crisis beginning in the last quarter of 2008, aggregate demand and commodity prices have declined sharply leading to a fast decline in world inflation. This different and new period reflects the rise in risk appetite leading to high fluctuations in the short term capital flows.
DENİZ, Pınar, ASLANOĞLU, Erhan
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Inflation Targeting: A Framework for Communication [PDF]
The B.E. Journal of Macroeconomics, 2009 We analyze how the provision of an explicit numerical inflation target provides a focal point for agents' expectations when information is imperfect. Communicating a target and a tolerance band around it provides a clear framework with which to evaluate monetary policy outcomes. We show how inflation targeting exploits the self-reinforcing loop between
Demertzis, Maria, Viegi, Nicola
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Inflation targeting challenges in emerging market countries: The case of Serbia [PDF]
Ekonomski Anali, 2015 In the past two decades Inflation targeting has been the monetary policy framework of choice for many developed nations around the world. A significant number of emerging market countries have gradually subscribed to the same monetary regime ...
Šoškić Dejan
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The Future of Inflation Targeting* [PDF]
Economic Record, 2011 By the end of the Great Moderation, over two dozen central banks were formal inflation targeters, and others, such as the Federal Reserve, the European Central Bank and the Swiss National Bank, behaved essentially as inflation targeters even though they were resistant to identifying themselves as such.
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How are Inflation Targets Set? [PDF]
SSRN Electronic Journal, 2010 This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first gather evidence from official central bank and government publications and from a questionnaire sent to central banks on how inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation ...
Roman Horváth, Jakub Matějů
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