From monetary targeting to inflation targeting : lessons from the industrialized countries / by Frederic S. Mishkin Mishkin, Frederic S.

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Author
Mishkin, Frederic S.
Subjects
Monetary policy - Developing countries.; Monetary policy - Developed countries.; Anti-inflationary policies - Developing countries.
Summary
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.
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http://trove.nla.gov.au/work/176505
Work ID
176505

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