Inflation targeting as a monetary policy rule

• 成果类型: Article; Proceedings Paper
• 署名作者: Svensson, LEO
• 署名单位: Stockholm University
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/S0304-3932(99)00007-0
• 发表日期: 1999
• 页码: 607-654
• 关键词: intermediate targets; monetary targeting; ECB; ESCB

摘要

The purpose of the paper is to survey and discuss inflation targeting in the context of monetary policy rules. The paper provides a general conceptual discussion of monetary policy rules, attempts to clarify the essential characteristics of inflation targeting, compares inflation targeting to monetary targeting and nominal-GDP targeting, and draws some conclusions for the monetary policy of the European System of Central Banks. (C) 1999 Elsevier Science B.V. All rights reserved.