Twenty Years of Inflation Targeting :Lessons Learned and Future Prospects

Twenty Years of Inflation Targeting

Twenty Years of Inflation Targeting :Lessons Learned and Future Prospects

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Published: 20 February, 2014
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Description

There is now a remarkably strong consensus among academics and professional economists that central banks should adopt explicit inflation targets and that all key monetary policy decisions, especially those concerning interest rates, should be made with a view to ensuring that these targets are achieved. This book provides a comprehensive review of the experience of inflation targeting since its introduction in New Zealand in 1989 and looks in detail at what we can learn from the past twenty years and what challenges we may face in the future. Written by a distinguished team of academics and professional economists from central banks around the world, the book covers a wide range of issues including many that have arisen as a result of the recent financial crisis. It should be read by anyone concerned with better understanding inflation targeting and its past, present and future role within monetary policy.
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More Details

Type Book
ISBN13 9781107696891
ISBN10 1107696895
Number Of Pages 468
Item Weight 620 g
Product Dimensions 152 x 229 x 24 mm
Publisher / Reseller Cambridge University Press
Format paperback
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Media Reviews

'After the financial crisis, central banks stand at a crossroads, and this book provides an invaluable guide. In it, a diverse set of academic and central bank contributors survey both the past achievements of inflation targeting as well as future challenges, including re-examining the role of asset prices in formulating monetary policy.' Glenn Rudebusch, Federal Reserve Bank of San Francisco
'A valuable collection of thoughtful and up-to-date views on all aspects of inflation targeting from an impressive group of experts.' David Miles, Monetary Policy Committee, Bank of England

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Author's Bio

David Cobham is Professor of Economics at Heriot-Watt University. Øyvind Eitrheim is Director of the Research Department at Norges Bank. Stefan Gerlach is Professor of Monetary Economics at the Institute for Monetary and Financial Stability, University of Frankfurt. Jan F. Qvigstad is Deputy Governor of Norges Bank.

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