INFLATION TARGETING by Ben Bernanke, etc., Thomas Laubach ( 9780691059556 )

Item Details

Title:

INFLATION TARGETING
LESSONS FROM THE INTERNATIONAL EXPERIENCE

By:

Format:

Hardback

List price:	£52.95
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ISBN 10:

0691059551

ISBN 13:

9780691059556

Publisher:

PRINCETON UNIVERSITY PRESS

Pub. date:

13 December, 1998

Pages:

392

Description:

This text begins by explaining the unique features and advantages of inflation targeting. The authors argue that the simplicity and openness of inflation targeting make it far easier to understand the intent and effects of monetary policy. They examine the approach in nine countries.

Synopsis:

How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency. In recent years a promising new approach has emerged: publicly announcing and pursuing specific targets for the rate of inflation. This book is a study of inflation targeting. Combining theoretical analysis with empirical studies of countries where inflation targeting has been adopted, the authors show that the strategy has clear advantages over traditional policies. They argue that the US Federal Reserve and the European Central Bank should adopt this strategy, and they make specific proposals for doing so. The authors warn, however, that the success of inflation targeting depends on operational details, such as how the targets are defined and when they are announced. They also show that inflation targeting is not a panacea that can make inflation perfectly predictable or reduce it without economic costs.

Illustrations:

25 line illus., 70 tables

Publication:

Imprint:

Princeton University Press

Returns:

Non-returnable

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