From monetary targeting to inflation targeting
lessons from the industrialized countries
by Frederic S. Mishkin
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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From monetary targeting to inflation targeting: lessons from the industrialized countries
2001, World Bank, Financial Sector Strategy and Policy Department
Electronic resource
in English
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Edition 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.
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