One Decade of Inflation Targeting in the World: What Do We Know and What Do We Need to Know?
One Decade of Inflation Targeting in the World: What Do We Know and What Do We Need to Know?
复制标题
全球通胀目标制的十年：我们知道什么以及我们需要知道什么？
DOI：
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发表时间：
2001
期刊：
影响因子：
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通讯作者：
Klaus Schmidt
中科院分区：
文献类型：
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作者：
Frederic S. Mishkin;Klaus Schmidt
世界上通货膨胀目标制的十年为通货膨胀目标制的设计和实施、货币政策的实施以及通货膨胀目标制下的国家绩效提供了经验教训。本文简要回顾了18种通货膨胀目标制的主要设计特点，统计分析了实行通货膨胀目标制的国家与不实行通货膨胀目标制的工业化国家在结构上是否存在差异，并回顾了通货膨胀目标制成功的现有证据。通货膨胀目标的设计特点和货币政策的行为在过渡到低通货膨胀的相互作用是解决。本文最后集中讨论了通货膨胀目标制的设计和实施方面的未决问题及其与货币政策行为的关系，这些问题是未来十年通货膨胀目标制必须解决的问题。
One decade of inflation targeting in the world offers lessons on the design and implementation of inflation targeting, the conduct of monetary policy, and country performance under inflation targeting. This paper reviews briefly the main design features of 18 inflation targeting experiences, analyzes statistically if countries under inflation targeting are structurally different from non-inflation targeting industrial countries, and reviews existing evidence about the success of inflation targeting. The interaction of inflation targeting design features and the conduct of monetary policy during transition to low inflation are tackled next. The paper ends by focusing on unresolved issues on design and implementation of inflation targeting and their relation to the conduct of monetary policy open issues that have to be addressed in the next decade of inflation targeting.