NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Inflation Targeting: Should It Be Modeled as an Instrument Rule or a Targeting Rule?

Lars E.O. Svensson

NBER Working Paper No. 8925
Issued in May 2002
NBER Program(s):   AP   IFM   ME

The paper discusses how current inflation targeting should be modeled, and argues that it is better represented as a commitment to a targeting rule (a rule specifying operational objectives for monetary policy or a condition for the target variables), than as a commitment to a simple instrument rule (like a Taylor rule).

download in pdf format
   (182 K)

email paper

This paper is available as PDF (182 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w8925

Published: Svensson, Lars E. O. "Inflation Targeting: Should It Be Modeled As An Instrument Rule Or A Targeting Rule?," European Economic Review, 2002, v46(4-5,May), 771-780. citation courtesy of

Users who downloaded this paper also downloaded these:
Svensson w9421 What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules
Taylor w6768 An Historical Analysis of Monetary Policy Rules
Svensson w6790 Inflation Targeting as a Monetary Policy Rule
Taylor A Historical Analysis of Monetary Policy Rules
Svensson w16654 Inflation Targeting
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us