Does inflation targeting make a difference?

Since New Zealand adopted inflation targeting in 1990, a steadily growing number of industrial and emerging economies have explicitly adopted an inflation target as their nominal anchor. Eight industrial countries and thirteen emerging economies had full-fledged inflation targeting in place in early...

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Autores principales: Mishkin, Frederic S., Schmidt-Hebbel, Klaus
Formato: Artículo
Lenguaje:eng
Publicado: Banco Central de Chile 2019
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Acceso en línea:https://hdl.handle.net/20.500.12580/3725
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spelling oai-20.500.12580-37252021-04-24T11:00:20Z Does inflation targeting make a difference? Mishkin, Frederic S. Schmidt-Hebbel, Klaus INFLACIÓN Since New Zealand adopted inflation targeting in 1990, a steadily growing number of industrial and emerging economies have explicitly adopted an inflation target as their nominal anchor. Eight industrial countries and thirteen emerging economies had full-fledged inflation targeting in place in early 2005. Many other emerging economies are planning to adopt inflation targeting in the near future. This trend has triggered an intensifying debate over whether inflation targeting makes a difference. Opinions diverge widely over whether central banks are better off after they adopt inflation (forecast) targeting as an explicit and exclusive anchor for conducting monetary policy. Analysts are demanding hard evidence that inflation targeting improves macroeconomic performance relative to countries without explicit inflation targeting. 2019-11-01T00:03:42Z 2019-11-01T00:03:42Z 2007 Artículo 978-956-7421-28-2 https://hdl.handle.net/20.500.12580/3725 eng Series on Central Banking, Analysis, and Economic Policies, no. 11 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 291-372 application/pdf NUEVA ZELANDIA Banco Central de Chile
institution Banco Central
collection Banco Central
language eng
topic INFLACIÓN
spellingShingle INFLACIÓN
Mishkin, Frederic S.
Schmidt-Hebbel, Klaus
Does inflation targeting make a difference?
description Since New Zealand adopted inflation targeting in 1990, a steadily growing number of industrial and emerging economies have explicitly adopted an inflation target as their nominal anchor. Eight industrial countries and thirteen emerging economies had full-fledged inflation targeting in place in early 2005. Many other emerging economies are planning to adopt inflation targeting in the near future. This trend has triggered an intensifying debate over whether inflation targeting makes a difference. Opinions diverge widely over whether central banks are better off after they adopt inflation (forecast) targeting as an explicit and exclusive anchor for conducting monetary policy. Analysts are demanding hard evidence that inflation targeting improves macroeconomic performance relative to countries without explicit inflation targeting.
format Artículo
author Mishkin, Frederic S.
Schmidt-Hebbel, Klaus
author_facet Mishkin, Frederic S.
Schmidt-Hebbel, Klaus
author_sort Mishkin, Frederic S.
title Does inflation targeting make a difference?
title_short Does inflation targeting make a difference?
title_full Does inflation targeting make a difference?
title_fullStr Does inflation targeting make a difference?
title_full_unstemmed Does inflation targeting make a difference?
title_sort does inflation targeting make a difference?
publisher Banco Central de Chile
publishDate 2019
url https://hdl.handle.net/20.500.12580/3725
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