Inflation targeting versus price-path targeting: looking for improvements
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Date
2007
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
The world’s central banks have undergone dramatic changes in the past fifteen years. Increases in independence and transparency have been coupled with a shift in focus. Price stability is now the paramount objective for the vast majority of modern central bankers. Combined, these changes in central bank structure and policy framework have yielded substantial benefits. Low and stable inflation has brought with it high and stable growth.
Keywords
INFLACIÓN, BANCOS CENTRALES, PRECIOS