Inflation targeting: a user's guide

As the fashionable way to make monetary policy over the last decade or so, inflation targeting has spread throughout the globe. Today there are 24 inflation targeters worldwide. Yet, as Edmund Phelps said in the previous issue of this journal, it is often not clear what it means to be an inflation targeter. Help is at hand here thanks to a recent paper from the International Monetary Fund (IMF).1

The authors of the paper say that there are three "pillars" in an effective inflation-targeting

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: