Title

Inflation Targeting

Author(s)

Lars E. O. Svensson Lars Svensson (Princeton University)

Abstract

Inflation targeting is a monetary-policy strategy that was introduced in New Zealand in 1990, has been very successful, and as of 2007 had been adopted by more than 20 industrialized and non-industrialized countries. It is characterized by (a) an announced numerical inflation target, (b) an implementation of monetary policy that gives a major role to an inflation forecast and has been called ‘inflation-forecast targeting’, (c) and a high degree of transparency and accountability.

Creation Date

2007-05

Section URL ID

Paper Number

144

URL

https://gceps.princeton.edu/wp-content/uploads/2017/01/144svensson.pdf

File Function

Jel

E42, E43, E47, E52, E58

Keyword(s)

New Zealand

Suppress

false

Series

3