The Evolution of Inflation Targeting Regime: Analyzing the Foreign Experience
Journal Title: Бізнес Інформ - Year 2016, Vol 7, Issue
Abstract
The article is aimed at studying the inflation targeting and the necessary conditions for implementing this monetary regime. Analyzing and generalizing the results of the researches by several scientists, international organizations, and central banks, the evolution of inflation targeting regime along with the need for introduction of a more flexible monetary policy have been considered. The progressive experience as to the implementation of inflation targeting in the foreign countries has been studied. It has been found that in both developed and developing countries, an introduction of inflation targeting provides to not only reduce inflation and maintain its level within the inflation target, but also reduce volatility of other macroeconomic indicators. It has been proven that a prerequisite for the introduction of inflation targeting is independence of central bank, a robust system for economic analysis and prognosis, transparency of the central bank activities. Further research in this direction can be directed to the development and implementation of effective mechanism for inflation targeting in Ukraine.
Authors and Affiliations
Tetiana Slipchenko
Keywords
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