Inflation Targeting as a Framework for Monetary Policy

By Guy Debelle, Miguel A Savastano, Paul R Masson, Sunil Sharma

October 2, 1998

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Format: Chicago

Guy Debelle, Miguel A Savastano, Paul R Masson, and Sunil Sharma. Inflation Targeting as a Framework for Monetary Policy, (USA: International Monetary Fund, 1998) accessed November 21, 2024

Summary

Inflation distorts prices, erodes savings, discourages investment, stimulates capital flight, inhibits growth, and makes economic planning a nightmare. During the past decade, several advanced economies have taken a new approach to the age-old problem of controlling inflation through monetary policy known as "inflation targeting." This pamphlet explains the requirements of putting the new policy in place, the experience of the countries that have tried it, and whether it has applicability to developing countries.

Subject: Banking, Exchange rates, Foreign exchange, Inflation, Inflation targeting, Monetary policy, Monetary policy frameworks, Monetary policy instruments, Prices

Keywords: Africa, Country, EI, Exchange rates, Government, Government operation, Inflation, Inflation expectation, Inflation targeting, Inflation-targeting approach, Inflation-targeting country, Inflation-targeting system, Monetary policy credibility, Monetary policy frameworks, Monetary policy instruments, Monetary policy setting, Monetary policy statement, Price level

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Economic Issues No. 1998/005
Stock No:

EIIEA0151996
ISBN:

9781557757616
ISSN:

1020-5098

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