Inflation Targeting in Emerging Market and Transition Economies: Lessons After a Decade

Stefan Gerlach () and Jeffery D. Amato

No 3074, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: Starting in the early 1990s, several emerging market and transition economies (EMEs) have adopted inflation targeting (IT). In this Paper we discuss a number of issues that arise in this context: (a) the definition of IT, (b) the role of preconditions for IT, (c) the use of intermediate exchange rate targets and (d) the specification of inflation targets. Our overall conclusion is that, suitably modified, IT is a useful policy strategy for EMEs.

Keywords: Inflation targeting; Central banks; Monetary policy (search for similar items in EconPapers)
JEL-codes: E42 E50 E58 (search for similar items in EconPapers)
Date: 2001-11
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Citations: View citations in EconPapers (14)

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Journal Article: Inflation targeting in emerging market and transition economies: Lessons after a decade (2002)
Working Paper: Inflation Targeting in Emerging Market and Transition Economies: Lessons after a Decade (2001)
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