From Monetary Targeting to Inflation Targeting: Lessons from Industrialized Countries

  title={From Monetary Targeting to Inflation Targeting: Lessons from Industrialized Countries},
  author={Frederic S. Mishkin},
The author examines changes in monetary policy in industrial countries by evaluating, and providing case studies of monetary targeting, and inflation targeting. Inflation targeting has successfully controlled inflation, with some qualifications. It weakens the effects of inflationary shocks, as examples from Canada, Sweden, and the United Kingdom show. It can promote growth, and does not lead to increased fluctuations in output. But inflation targets do not necessarily reduce the cost of… 
Inflation: Failures of Inflation Targeting—A European Perspective
  • E. Springler
  • Economics
    Frontiers of Heterodox Macroeconomics
  • 2019
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Comment on Part I
Monetary targeting adopted by central banks has the objective of anchoring the expectation of economic agents. Central banks usually announce a growth rule for what they consider to be a sustainable


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