Inflation targeting as a monetary policy rule

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Inflation targeting as a monetary policy rule

Svensson, Lars E.O.

Journal of monetary economics, 06/1999, Volume: 43, Issue: 3

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The purpose of the paper is to survey and discuss inflation targeting in the context of monetary policy rules. The paper provides a general conceptual discussion of monetary policy rules, attempts to clarify the essential characteristics of inflation targeting, compares inflation targeting to monetary targeting and nominal-GDP targeting, and draws some conclusions for the monetary policy of the European System of Central Banks.

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Svensson, Lars E.O.

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