Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets

Lars Svensson

Bank of England working papers from Bank of England

Abstract: The paper discusses the implementation of inflation-targeting across countries. It argues that the intermediate variable under an inflation target is, in effect, the inflation forecast. Such a regime is shown to confer benefits over other regimes, such as money and exchange rate targeting: in terms of the efficient implementation of policy; in terms of transparency; and in terms of the stabilisation of inflation and output.

Date: 1996-11
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Related works:
Journal Article: Inflation forecast targeting: Implementing and monitoring inflation targets (1997)
Working Paper: Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets (1997)
Working Paper: Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets (1996)
Working Paper: Inflation Forecast Targeting: Implementaing and Monitoring Inflation Targets (1996)
Working Paper: Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets (1996)
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