Tokyo disputes inflation targets

The year 2006 will be important for the Bank of Japan and the Federal Reserve as each will increasingly debate whether some type of inflation targetting will improve policy outcomes compared with what Alan Blinder (1998) calls "enlightened discretion". Some argue targetting and enlightened discretion are the same when the final policy target is price stability because policy is conducted "as if" a targetting framework were in place. However this is incorrect. Targetting is a significant

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

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 individual account