Twenty Years of Inflation Targeting: Lessons Learned and Future ProspectsDavid Cobham, Øyvind Eitrheim, Stefan Gerlach, Jan F. Qvigstad Cambridge University Press, 16. sep. 2010 - 468 sider 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. |
Innhold
Reflections on inflation targeting | 13 |
where when why | 57 |
How did we get to inflation targeting and where | 90 |
why are some | 111 |
lessons from | 144 |
Inflation targeting and asset prices | 172 |
The optimal monetary policy instrument inflation | 192 |
Expectations deflation traps and macroeconomic policy | 232 |
Actual inflation and generated forecasts from t 12 for | 294 |
Inflation targeting and private sector forecasts | 306 |
Gauging the effectiveness of quantitative forward | 368 |
Macromodelling with many models | 398 |
Have crisis monetary policy initiatives jeopardised | 419 |
The financial crisis as an opportunity to strengthen | 428 |
Leaning against the wind is fine but will often | 434 |
Inflation targeting capital requirements and leaning | 440 |
Heterogeneous expectations learning and European | 261 |
Actual inflation and household expected inflation from | 292 |
Vanlige uttrykk og setninger
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