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Targeting Monetary Aggregatesand Inflation in Europe

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  • Cukierman, A.

    (Tilburg University, Center For Economic Research)

Abstract

The recent quest for price stability with the relative success of the Bundesbank in maintaining low inflation induced a good number of countries in Europe and elswhere to reconsider the legal foundations of the institutions that formulate and implement monetary policy.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Cukierman, A., 1996. "Targeting Monetary Aggregatesand Inflation in Europe," Discussion Paper 1996-32, Tilburg University, Center for Economic Research.
    • Handle: RePEc:tiu:tiucen:36ef8b04-a72a-4f96-8c15-a82797c41c43
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    1. Svensson, Lars E O, 1997. "Optimal Inflation Targets, "Conservative" Central Banks, and Linear Inflation Contracts," American Economic Review, American Economic Association, vol. 87(1), pages 98-114, March.
    2. Bruno, Michael, 1993. "Crisis, Stabilization, and Economic Reform: Therapy by Consensus," OUP Catalogue, Oxford University Press, number 9780198286639.
    3. Charles A. E. Goodhart & Jose Vinals, 1994. "Strategy an tactics of monetary policy: examples from Europe and the Antipodes," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 38, pages 139-194.
    4. Thomas Havrilesky & John Gildea, 1991. "Screening Fomc Members For Their Biases And Dependability," Economics and Politics, Wiley Blackwell, vol. 3(2), pages 139-149, July.
    5. Alesina, Alberto & Summers, Lawrence H, 1993. "Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(2), pages 151-162, May.
    6. Cohen, Daniel & Melitz, Jacques & Oudiz, Gilles, 1988. "The European Monetary System and the Franc-Mark Asymmetry," CEPR Discussion Papers 245, C.E.P.R. Discussion Papers.
    7. Walsh, Carl E, 1995. "Is New Zealand's Reserve Bank Act of 1989 an Optimal Central Bank Contract?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1179-1191, November.
    8. Cukierman, Alex & Liviatan, Nissan, 1991. "Optimal accommodation by strong policymakers under incomplete information," Journal of Monetary Economics, Elsevier, vol. 27(1), pages 99-127, February.
    9. von Hagen, J, 1995. "Inflation and Monetary Targeting in Germany," Papers 03, American Institute for Contemporary German Studies-.
    10. Cukierman, Alex & Leiderman, Leonardo & Spiegel, Yossi, 1994. "Choosing the Width of Exchange Rate Bands - Credibility vs. Flexibility," CEPR Discussion Papers 907, C.E.P.R. Discussion Papers.
    11. Capie,Forrest & Fischer,Stanley & Goodhart,Charles & Schnadt,Norbert, 1995. "The Future of Central Banking," Cambridge Books, Cambridge University Press, number 9780521496346, September.
    12. Alex Cukierman, 1992. "Central Bank Strategy, Credibility, and Independence: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031981, April.
    13. Kenneth Rogoff, 1985. "The Optimal Degree of Commitment to an Intermediate Monetary Target," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(4), pages 1169-1189.
    14. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    15. Cukierman Alex, 1992. "CENTRAL BANK STRATEGY, CREDIBILITY, AND INDEPENDANCE: THEORY AND EVIDENCE: Compte Rendu par Dominique Cariofillo," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 3(4), pages 581-590, December.
    16. Garfinkel, Michelle R & Oh, Seonghwan, 1993. "Strategic Discipline in Monetary Policy with Private Information: Optimal Targeting Horizons," American Economic Review, American Economic Association, vol. 83(1), pages 99-117, March.
    17. Cukierman, Alex, 1994. "Central Bank Independence and Monetary Control," Economic Journal, Royal Economic Society, vol. 104(427), pages 1437-1448, November.
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    Cited by:

    1. Beetsma, Roel M W J & Jensen, Henrik, 1998. "Inflation Targets and Contracts with Uncertain Central Banker Preferences," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 30(3), pages 384-403, August.
    2. Karen Cabos & Michael Funke & Nikolaus A. Siegfried, 2001. "Some Thoughts on Monetary Targeting vs. Inflation Targeting," German Economic Review, Verein für Socialpolitik, vol. 2(3), pages 219-238, August.
    3. Helmut Frisch & Sylvia Staudinger, 2002. "Comparing Different Central Bank Targets," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 29(1), pages 11-30, March.

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    More about this item

    Keywords

    inflation; monetary policy; Europe;
    All these keywords.

    JEL classification:

    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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