A dynamic approach to inflation targeting in transition economies

Lucjan Orlowski

No B 11-2000, ZEI Working Papers from University of Bonn, ZEI - Center for European Integration Studies

Abstract: This study views inflation targeting as a viable monetary regime for more advanced transition economies. A dynamic approach to the trajectory of disinflation and to the flexibility of direct inflation targeting is presented in the context of achieving monetary convergence to the EU/AMU. The candidate countries are advised to begin from strict inflation targeting and to follow with a more flexible inflation targeting regime before they establish a necessary ‘foundational credibility’ and monetary stability. These steps, ultimately followed by a euro-peg, are necessary in preparing for accession to the eurozone. The early experiences of the Czech Republic and Poland with inflation targeting are examined.

JEL-codes: E32 E52 P33 (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (6)

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Related works:
Working Paper: A Dynamic Approach to Inflation Targeting in Transition Economies (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zeiwps:b112000

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