Is inflation targeting useful for economic growth?
- 20 February 2017
- journal article
- Published by NP Voprosy Ekonomiki in Voprosy Ekonomiki
- No. 2,p. 62-74
- https://doi.org/10.32609/0042-8736-2017-2-62-74
Abstract
The paper presents an overview of studies of the effects of inflation targeting on long-term economic growth. We analyze the potential channels of influence, as well as modern empirical studies that test performance of these channels. We compare the effects of different variants of inflation targeting (strict and mixed). Based on the analysis recommendations on the choice of optimal (in terms of stimulating long-term growth) regime of monetary policy in developed and developing economies are formulated.Keywords
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