Number: RL31702
Title: Price Stability (Inflation Targeting) as the Sole Goal of Monetary Policy: The International Experience
Authors: Marc Labonte and Gail Makinen, Government and Finance Division 
Abstract: This report develops quantitative measurements to analyze the success of inflation targeting abroad by comparing both the performance of targeters to nontargeters and the performance of countries before and after targeting was adopted. It looks closely at five countries that have adopted a price stability goal: New Zealand, Canada, the United Kingdom, Sweden, and the euro area. The report concludes with an analysis of the record of inflation targeting in the developing world.
Pages: 29
Date: July 27, 2007