EconPapers    
Economics at your fingertips  
 

Does Talk Matter After All? Inflation Targeting and Central Bank Behavior

Kenneth Kuttner () and Adam Posen ()

No WP99-10, Working Paper Series from Peterson Institute for International Economics

Abstract: Since 1990, a number of countries have adopted inflation targeting as their declared monetary strategy. Interpretations of the significance of this movement, however, have differed widely. To some, inflation targeting mandates the single-minded, rule-like pursuit of price stability without regard for other policy objectives; to others, inflation targeting represents nothing more than the latest version of cheap talk by central banks unable to sustain monetary commitments. Advocates of inflation targeting, including the adopting central banks themselves, have expressed the view that the transparency and communication of the inflation targeting framework grant the central bank greater short-run flexibility in pursuit of its long-run inflation goal.

Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (60) Track citations by RSS feed

Downloads: (external link)
https://www.piie.com/publications/working-papers/d ... entral-bank-behavior (text/html)

Related works:
Working Paper: Does talk matter after all? Inflation targeting and central bank behavior (1999) Downloads
Working Paper: Does talk matter after all? Inflation targeting and central bank behavior (1999) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iie:wpaper:wp99-10

Access Statistics for this paper

More papers in Working Paper Series from Peterson Institute for International Economics Contact information at EDIRC.
Bibliographic data for series maintained by Peterson Institute webmaster ().

 
Page updated 2021-06-17
Handle: RePEc:iie:wpaper:wp99-10