Can, or Should, a Central Bank Inflation Target?

Paul Davidson

Chapter 22 in Interpreting Keynes for the 21st Century, 2007, pp 277-291 from Palgrave Macmillan

Abstract: Abstract Today’s conventional wisdom states that central banks will be very successful if they engage in developing a monetary policy that targets a specific rate of inflation. To understand whether a central bank can successfully pursue an inflation target policy we must inquire (1) what is the theory that informs us whether a central bank can target inflation? and (2) what is the mechanism that converts a specific monetary policy into achieving a specific rate of inflation?

Keywords: Central Bank; Spot Price; Inflation Target; Spot Prex; Buffer Stock (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230286559_22

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