Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Monetary and Exchange Affairs Department.
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| ISBN: | 145524029X
9781455240296
1281600067
9781281600066
1462384315
9781462384310
1455278742
9781455278749
9786613780751
6613780758
9781451848656
145184865X
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| Notes: | Includes bibliographical references (pages 16-17).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation As with many monetary policy frameworks, inflation targeting is subject to the well-known problem of inflation bias. with inflation targeting, however, the bias becomes apparent not as inflation above desired levels, but as a wedge between the announced target and observed inflation. This inconsistency could render the framework neither credible nor enforceable since the target is overshot on average. the problem can be addressed by assigning price stability as the single policy objective or by assigning a joint target for both inflation and output, provided that they are consistent. Many inflation targeting countries take the joint target approach implicitly through transparency measures which publicly assess monetary conditions in terms of potential output and output gaps.
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| Other form: | Print version: Green, John Huss, 1955- Inflation targeting. [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Dept., ©1996
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