Inflation Targeting in the World Economy

Contents......Page 8
Preface\r......Page 14
Acknowledgments......Page 16
Ch 1 What Is the Fuss All About?\r......Page 18
What Is Inflation Targeting?......Page 22
What Are the Issues?......Page 24
Plan of the Book......Page 28
Appendix 1.1 Monetary Policy Regimes......Page 30
Intellectual Origins......Page 34
Choosing an Inflation-Targeting Framework......Page 55
Ch 3 Inflation Targeting in Practice\r......Page 64
Necessary Preconditions......Page 65
What the Skeptics Say......Page 72
The Framework in Practice: Four Principal Elements......Page 77
Actual and Potential Inflation Targeters......Page 84
Empirical Investigations......Page 88
Conclusion......Page 113
Ch 4 Inflation Targeting and the Group of Three......Page 116
Individual Adoption......Page 117
Joint Adoption......Page 176
Ch 5 Exchange Rate Regimes, Policies, and Practices......Page 182
Performance of Exchange Rates under Inflation Targeting......Page 184
Inflation Targeting and Exchange Rate Regimes......Page 194
Inflation Targeting and Exchange Market Operations......Page 198
The “Fear of Floating”......Page 202
Conclusions......Page 206
Prevention and Management of Crises......Page 208
IMF Adjustment Programs......Page 213
Conclusions......Page 220
Ch 7 Challenges and Opportunities\r......Page 222
Inflation Targeting by the G3......Page 226
Is Inflation Targeting Broadly Applicable?......Page 228
Implications for Exchange Rate Policies......Page 230
Implications for the International Financial Architecture......Page 231
Recommendations......Page 232
Concluding Thoughts......Page 233
Appendix......Page 236
References......Page 254
Index......Page 272