Scandinavian Working Papers in Economics

Seminar Papers,
Stockholm University, Institute for International Economic Studies

No 648: International Experiences With Different Monetary Policy Regimes

Frederic S. Mishkin ()
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Frederic S. Mishkin: Graduate School of Business, Columbia University, Postal: Uris Hall 619, Columbia University, New York, New York 10027, USA

Abstract: In recent years a growing consensus has emerged for price stability as the overriding, long run goal of monetary policy. However, despite this consensus, the following question still remains: how should monetary policy be conducted to achieve the price stability goal? This paper examines the experience with different monetary policy regimes currently in use in a number of countries to shed light on this question.

Keywords: inflation targeting; monetary policy

JEL-codes: E42; E52

46 pages, August 1, 1998

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