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Inflation Targeting as a Framework for Monetary Policy

Author

Listed:
  • Guy Debelle
  • Mr. Miguel A Savastano
  • Mr. Paul R Masson
  • Mr. Sunil Sharma

Abstract

Inflation distorts prices, erodes savings, discourages investment, stimulates capital flight, inhibits growth, and makes economic planning a nightmare. During the past decade, several advanced economies have taken a new approach to the age-old problem of controlling inflation through monetary policy known as "inflation targeting." This pamphlet explains the requirements of putting the new policy in place, the experience of the countries that have tried it, and whether it has applicability to developing countries.

Suggested Citation

  • Guy Debelle & Mr. Miguel A Savastano & Mr. Paul R Masson & Mr. Sunil Sharma, 1998. "Inflation Targeting as a Framework for Monetary Policy," IMF Economic Issues 1998/005, International Monetary Fund.
    • Handle: RePEc:imf:imfeci:1998/005
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