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Inflation Targeting – Between Theory And Reality

Maria Vasilescu () and Mariana Claudia Mungiu-Pupăzan ()
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Maria Vasilescu: “Constantinn Brancusi” University of Târgu-Jiu, Romania
Mariana Claudia Mungiu-Pupăzan: “Constantinn Brancusi” University of Târgu-Jiu, Romania

Annals of the University of Petrosani, Economics, 2010, vol. 10, issue 3, 357-364

Abstract: The paper provides an analysis of the general inflation targeting framework and its implications on macroeconomic performance improvement. Usually, the strategies are similar across countries, but specific conditions related to financial system stability, bank independence, transparency or credibility may differ from country to country, despite their level of development. It also examines whether certain conditions have to be met before emerging countries pass to this regime of monetary policy and brings different evidence to these requirements. We then examine some of industrialized and emerging economies that have been assessed to prove to what extent the inflation targeting decision contributed to a successful functioning market economy.

Keywords: inflation targeting; monetary policy; central banks; independence; transparency; credibility (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
Date: 2010
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