Inflation Targeting

Lars E.O. Svensson

Chapter 22 in Handbook of Monetary Economics, 2010, vol. 3, pp 1237-1302 from Elsevier

Abstract: Inflation targeting is a monetary-policy strategy characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast that has been called forecast targeting, and a high degree of transparency and accountability. It was introduced in New Zealand in 1990, has been very successful in terms of stabilizing both inflation and the real economy, and as of 2010 has been adopted by about 25 industrialized and emerging-market economies. This chapter discusses the history, macroeconomic effects, theory, practice, and future of inflation targeting.

Keywords: Flexible Inflation Targeting; Forecast Targeting; Optimal Monetary Policy; Transparency (search for similar items in EconPapers)
JEL-codes: E0 (search for similar items in EconPapers)
Date: 2010
ISBN: 978-0-444-53470-5
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Related works:
Working Paper: Inflation Targeting (2010)
Working Paper: Inflation Targeting (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:monchp:3-22

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