Inflation Targeting as a Stabilization Tool: Its Design and Performance in the Czech Republic
Kotlán, Viktor; Navrátil, David
Year: 2003 Volume: 53 Issue: 5 -6 Pages: 220-242
Abstract: The article focuses on the development and performance of inflation targeting in the Czech Republic. It is shown that the particulars of the Czech inflation-targeting regime developed from a rather specific setting toward a framework based on international best practices. Its performance is evaluated using three methods. The results suggest that even though inflation targets have been missed more often than met, the practice of inflation targeting has significantly contributed to the stabilization of the Czech economy.
JEL classification: E50, E52
Keywords: inflation targeting; measuring performance of monetary policy
RePEc: n/a
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