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Monetary Policy under Flexible Exchange Rates: An Introduction to Inflation Targeting
Policy Research Working Papers
This paper provides an introduction to inflation targeting, with a particular emphasis on analytical issues and the recent experience of developing countries. After presenting a formal framework, it discusses basic requirements for inflation targeting and how such a regime differs from money and exchange rate targeting regimes. The operational framework of inflation targeting (including the price index to monitor, the target horizon, forecasting procedures, and the role of asset prices) is thendoi:10.1596/1813-9450-2511 fatcat:hutwtcsxxbbffjtr62lg2vlcvu