Inflation targeting and the anchoring of inflation expectations in the Western hemisphere
Many central banks have adopted a formal inflation-targeting framework based on the belief and the theoretical predictions that an explicit and clearly communicated numerical objective for the level of inflation over a specified period would, in itself, be a strong communication device that would he...
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| Main Authors: | , , , |
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| Format: | Artículo |
| Language: | eng |
| Published: |
Banco Central de Chile
2019
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| Subjects: | |
| Online Access: | https://hdl.handle.net/20.500.12580/3727 |
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| Summary: | Many central banks have adopted a formal inflation-targeting framework based on the belief and the theoretical predictions that an explicit and clearly communicated numerical objective for the level of inflation over a specified period would, in itself, be a strong communication device that would help anchor long-term inflation expectations. Empirically verifying the success of inflation-targeting regimes in this dimension has been difficult, however, as survey data on long-term inflation expectations tend to be of limited availability and low frequency. |
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