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Inflation Targeting in Practice

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  • Guy Debelle

Abstract

This paper offers a practical guide for the adoption of inflation targeting as a monetary policy strategy. It discusses the practical issues that have risen in the operation of an inflation targeting framework, and highlights the five major features of a framework: assignment of the target, interaction with other policy goals, definition of the target, accountability, and role of inflation forecasts. It concludes with an assessment of the economic performance of the inflation targeting countries.

Suggested Citation

  • Guy Debelle, 1998. "Inflation Targeting in Practice," Occasional Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number occ23, April.
    • Handle: RePEc:sea:opaper:occ23
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    References listed on IDEAS

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    1. Svensson, Lars E. O., 1997. "Inflation forecast targeting: Implementing and monitoring inflation targets," European Economic Review, Elsevier, vol. 41(6), pages 1111-1146, June.
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    8. Paul R. Masson & Miguel A. Savastano & Sunil Sharma, 2019. "The Scope for Inflation Targeting in Developing Countries," World Scientific Book Chapters, in: Macroeconomic Modelling and Monetary and Exchange Rate Regimes, chapter 10, pages 331-383, World Scientific Publishing Co. Pte. Ltd..
    9. Mr. Mark E Griffiths & Mr. Timothy D. Lane & Mr. Alessandro Prati, 1995. "An Inflation Targeting Framework for Italy," IMF Policy Discussion Papers 1995/004, International Monetary Fund.
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    12. Andreas Fischer, 1993. "Inflation Targeting: The New Zealand and Canadian Cases," Cato Journal, Cato Journal, Cato Institute, vol. 13(1), pages 1-27, Spring/Su.
    13. Ulrich Stiehler, 1995. "The New Monetary Policy Framework of the United Kingdom," IMF Policy Discussion Papers 1995/001, International Monetary Fund.
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