From monetary targeting to inflation targeting
Subtitle: lessons from the industrialized countries
By: Frederic S. Mishkin.
Contributors: World Bank. Financial Sector Strategy and Policy Group.
Series: Policy research working paper ;; 2684; Policy research working papers (Online) ;; 2684.
Publisher: World Bank, Financial Sector Strategy and Policy Department
Published: 2001
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Monetary policy -- Developed countries.; Inflation (Finance) -- Developed countries.; Anti-inflationary policies -- Developed countries.
Description: Experience with monetary targeting suggests that although it successfully controlled inflation in Switzerland and especially Germany, the special conditions that made it work reasonably well in those two countries are unlikely to be satisfied elsewhere. Inflation targeting is more likely to improve economic performance in countries that choose to have an independent domestic monetary policy, but there are subtleties in how inflation targeting is done. Lessons from industrial countries should be useful to central banks designing a framework for monetary policy.
Notes: Also available in print.
Includes bibliographical references (p. 31-35).
Title from title screen as viewed on Aug. 26, 2002.
"October 2001."
Mode of access: World Wide Web.