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The Inflation-Targeting Debate (Paperback, New edition)
Loot Price: R1,396
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The Inflation-Targeting Debate (Paperback, New edition)
Series: (NBER) National Bureau of Economic Research Business Cycles
Expected to ship within 12 - 17 working days
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Over the past fifteen years, a significant number of industrialized
and middle-income countries have adopted inflation targeting as a
framework for monetary policymaking. As the name suggests, in such
inflation-targeting regimes, the central bank is responsible for
achieving a publicly announced target for the inflation rate. While
the objective of controlling inflation enjoys wide support among
both academic experts and policymakers, and while the countries
that have followed this model have generally experienced good
macroeconomic outcomes, many important questions about inflation
targeting remain.
In "Inflation Targeting," a distinguished group of contributors
explores the many underexamined dimensions of inflation
targeting--its potential, its successes, and its limitations--from
both a theoretical and an empirical standpoint, and for both
developed and emerging economies. The volume opens with a
discussion of the optimal formulation of inflation-targeting policy
and continues with a debate about the desirability of such a model
for the United States. The concluding chapters discuss the special
problems of inflation targeting in emerging markets, including the
Czech Republic, Poland, and Hungary.
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