Monetary Policy and Inflation Targeting

@inproceedings{Svensson1998MonetaryPA,
  title={Monetary Policy and Inflation Targeting},
  author={Lars E. O. Svensson},
  year={1998}
}
In the 1990s, several countries shifted to a new monetary policy regime: an announced quantitative inflation target. The reason for this shift was the unsatisfactory performance under previous regimes. New Zealand, Canada, Australia, and Spain all introduced inflation targets under persistently high inflation; the United Kingdom, Sweden, and Finland did so after having abandoned fixed exchange rates, which had failed to achieve low and stable inflation and had been subject to dramatic… CONTINUE READING

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Optimal Inflation Targets , ‘ Conservative ’ Central Banks , and Linear Inflation Contracts

  • L. E. O. Svensson
  • American Economic Review
  • 1997

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