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Volume 53, Issue 5 -6


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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