Inflation Targeting in the World Economy

Edwin Truman

in Peterson Institute Press: All Books from Peterson Institute for International Economics

Abstract: This study reviews the literature on the contribution of low inflation to economic growth and the subsequent widespread adoption of inflation targeting as a monetary policy framework. Edwin Truman addresses the challenges and risks associated with such a framework. Building on these foundations, the study focuses on two major international economic policy issues: (1) the implications of differing national regimes of inflation targeting for international economic policy cooperation; and (2) the adoption of inflation targeting by emerging-market economies which often lack stable monetary policy environments and credible policy authorities--a situation which, among other things, can complicate the use of the inflation targeting framework as the basis for IMF-supported stabilization programs.

Date: 2003
ISBN: 978-0-88132-345-0
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Persistent link: https://EconPapers.repec.org/RePEc:iie:ppress:346

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