NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Inflation Targeting in Emerging Market Countries

Frederic S. Mishkin

NBER Working Paper No. 7618 (Also Reprint No. r2277)*
Issued in August 2000
NBER Program(s):   EFG    IFM    ME

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 appropriate for many emerging market countries, it can be a highly useful monetary policy strategy in a number of them.

*Published: American Economic Review, vol. 9, no. 2, pp. 105-109, May 2000.

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