Inflation targeting should be improved, not replaced, RBA paper says

The Reserve Bank of Australia

Phillips curves have flattened in the years since inflation targeting was first adopted, leading to calls for a mandate that pays more attention to growth, but a research discussion paper, published today (August 25) by the Reserve Bank of Australia (RBA), argues such calls are premature.

Inflation targeting: a victim of its own success?, by Christian Gillitzer and John Simon, warns inflation targeting's success is a poor reason to argue for its replacement, either with a dual mandate or a

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