Loading...
Please wait, while we are loading the content...
Similar Documents
Inflation targeting : What have we learned ?
| Content Provider | Semantic Scholar |
|---|---|
| Author | Walsh, Carl E. |
| Copyright Year | 2008 |
| Abstract | Inflation targeting has been widely adopted in both developed and emerging economies. In this essay, I survey the evidence on the effects of inflation targeting on macroeconomic performance and assess what lessons this evidence provides for inflation targeting and the design of monetary policy. While macroeconomic experiences among both inflation targeting and non-targeting developed economies have been similar, inflation targeting has improved macroeconomic performance among developing economies. Importantly, inflation targeting has not been associated with greater real economic instability among either developed or developing economics. While costs shocks, such as the large rise in commodity prices that occurred in 2007 and early 2008, force central banks to make difficult short-run trade-offs, the ability to deal with demand shocks and financial crises can be enhanced by a commitment to an explicit target. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://people.ucsc.edu/~walshc/MyPapers/INFI_1236.pdf |
| Alternate Webpage(s) | http://people.ucsc.edu/~walshc/MyPapers/Kuszczak_Lecture_20090131.pdf |
| Alternate Webpage(s) | https://people.ucsc.edu/~walshc/MyPapers/Kuszczak_Lecture_20090131.pdf |
| Alternate Webpage(s) | http://people.ucsc.edu/~walshc/MyPapers/IT_BankofCanada_IF2009.pdf |
| Alternate Webpage(s) | http://people.ucsc.edu/~walshc/MyPapers/INFI_1236.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Bank (environment) Entity Name Part Qualifier - adopted Experience Instability Money Shock cellular targeting |
| Content Type | Text |
| Resource Type | Article |
