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. |
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Innhold
| 7 | |
achievements | 25 |
where when why | 57 |
How did we get to inflation targeting and where | 90 |
why are some | 111 |
lessons from | 144 |
The optimal monetary policy instrument inflation | 192 |
Expectations deflation traps and macroeconomic policy | 232 |
Actual inflation and household expected inflation from | 292 |
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 |
Andre utgaver - Vis alle
Twenty Years of Inflation Targeting: Lessons Learned and Future Prospects David Cobham,Øyvind Eitrheim,Stefan Gerlach,Jan F. Qvigstad Ingen forhåndsvisning tilgjengelig - 2010 |
Twenty Years of Inflation Targeting: Lessons Learned and Future Prospects David Cobham,Øyvind Eitrheim,Stefan Gerlach,Jan F. Qvigstad Ingen forhåndsvisning tilgjengelig - 2014 |
Vanlige uttrykk og setninger
actual inflation adoption analysis assessment asset price average bank’s benefits Bernanke cent CGLS coefficient constant gain convergence countries default defined deflation difficult DSGE economic EDSGE effect ensemble ensemble forecast equation estimated euro area exchange rate financial crisis financial markets financial stability find findings first fiscal policy five forecast densities forecast errors household expectations increase infla inflation inflation expectations inflation forecasts inflation rate inflation targeting inflation volatility inflation-targeting inflation-targeting central banks inflation-targeting regime interbank interest rate path lagged long-term inflation macroeconomic measure monetary policy surprises non-IT Norges Bank Norway p-value panel path surprises period Phillips curve policy framework policy rate policymakers predictability price stability private sector forecasts professional forecasters rational expectations RBNZ reflect regression repo rate Riksbank robust sample shocks short-term significant significantly Spain specification standard deviation statistic Statistics Norway Sweden Table target surprises tion transparency United Kingdom VSOEs year’s inflation Zealand
Bibliografisk informasjon
| Tittel | Twenty Years of Inflation Targeting: Lessons Learned and Future Prospects |
| Redaktører | David Cobham, Øyvind Eitrheim, Stefan Gerlach, Jan F. Qvigstad |
| Utgiver | Cambridge University Press, 2010 |
| ISBN | 1139491253, 9781139491259 |
| Lengde | 468 sider |
| Eksporter sitat | BiBTeX EndNote RefMan |