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The early years of inflation targeting: Review and outlook

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  • Billmeier, Andreas

Abstract

This paper deals with a 'new' type of monetary policy making: Inflation Targeting (IT). It attempts to identify reasons for which countries might be inclined to adopt this framework for monetary policy. By reviewing recent experience of inflation targeting countries, the paper outlines the major operational arguments regarding the implementation of IT. Another important issue is the applicability of IT in transition countries: in the light of EU (and, in the longer run, EMU) accession, Inflation Targeting might be an interesting policy framework to at least some countries in Central and Eastern Europe.

Suggested Citation

  • Billmeier, Andreas, 1999. "The early years of inflation targeting: Review and outlook," BERG Working Paper Series 31, Bamberg University, Bamberg Economic Research Group.
    • Handle: RePEc:zbw:bamber:31
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    File URL: https://www.econstor.eu/bitstream/10419/39712/1/30210092X.pdf
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    References listed on IDEAS

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    1. von Hagen, J, 1995. "Inflation and Monetary Targeting in Germany," Papers 03, American Institute for Contemporary German Studies-.
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    Cited by:

    1. Kächelein, Holger, 2003. "Fiscal competition on the local level: May commuting be a source of fiscal crises?," BERG Working Paper Series 45, Bamberg University, Bamberg Economic Research Group.
    2. Szüle, Borbála, 2003. "Inside financial conglomerates: Effects in the Hungarian pension fund markets," BERG Working Paper Series 42, Bamberg University, Bamberg Economic Research Group.

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    More about this item

    Keywords

    inflation targeting; monetary policy; Central and Eastern Europe;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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