INFLATION TARGETING POLICY: THE EXPERIENCES OF INDONESIA AND THAILAND

Reza Siregar and Siwei Goo

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: The chief objective of our paper is to highlight basic features of the IT policies adopted by Indonesia and Thailand, and to evaluate their overall performances. These economies have seen their inflation rates to decline during the post-IT period, and pass-through rates for both tradable and non-tradable prices in the two emerging markets have also declined. More importantly, no trade-offs between output growth and inflation have been reported. The implementations of the IT policy in these two Southeast Asian economies have however largely been “flexible” rather than “strict”, seeking the balance between minimizing output gap and achieving price stability.

JEL-codes: E52 E58 F31 F33 (search for similar items in EconPapers)
Pages: 51 pages
Date: 2008-07
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2008-23

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