Inflation Targeting in Emerging Market Countries

Article, Preprint OPEN
Frederic S. Mishkin;
  • Journal: American Economic Review,volume 90,issue 2 May,pages105-109
  • Related identifiers: doi: 10.1257/aer.90.2.105
  • Subject:
    • jel: jel:E31 | jel:P24 | jel:E52 | jel:E5 | jel:O23

This paper outlines what inflation targeting involves for emerging market/transition countries and discusses the advantages and disadvantages of this monetary policy strategy. The discussion suggests that although inflation targeting is not a panacea and may not be appr... View more
  • References (2)

    1. See Mishkin and Savastano (1999) for a more detailed discussion of the experience with inflation targeting in Latin America.

    3. The Chilean controls on short-term capital flows have often been cited as another important factor behind the relative stability of the Chilean economy and the success of monetary policy, but rigorous prudential supervision was probably more important. For a recent overview of the debate surrounding Chile's capital controls, see Sebastian Edwards, 1999.

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