Monetary Policy Implementation and Results in Twenty Inflation-Targeting Countries

Klaus Schmidt-Hebbel and Matias Tapia

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: Inflation targeting is an increasingly popular monetary regime among industrialized and developing central banks. However, there is little cross-country comparative information about commonalties and differences in monetary policy implementation and results across inflation-targeting countries. This paper presents the results of a survey on monetary policy conducted among the world’s twenty central banks that currently target inflation. Survey responses highlight operational features of monetary policy implementation, the ways monetary decisions are made and communicated to the public, and the models on which monetary policy decisions and macroeconomic forecasts are based. The paper also reports the dynamic simulation effects of monetary policy changes on output and inflation reported by individual central banks.

Date: 2002-06
New Economics Papers: this item is included in nep-mon
References: Add references at CitEc
Citations: View citations in EconPapers (59)

Downloads: (external link)
https://www.bcentral.cl/documents/33528/133326/DTBC_166.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:166

Access Statistics for this paper

More papers in Working Papers Central Bank of Chile from Central Bank of Chile Contact information at EDIRC.
Bibliographic data for series maintained by Alvaro Castillo ().