Statistical Implications of Inflation Targeting: Getting the Right Numbers and Getting the Numbers Right
Books, September 25, 2002
Source details
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- Statistical Implications of Inflation Targeting: Getting the Right Numbers and Getting the Numbers Right
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Bibliographic details
- Authors: Carol S Carson, Claudia H Dziobek, Charles Enoch
- Published: September 25, 2002
- Series: Books
- DOI: https://doi.org/10.5089/9781589061323.071
Overview and purpose
- Brings together the experience of central banks and national statistical agencies in countries that focus their monetary policy on inflation targets.
- Emphasizes that when central bank performance is measured by specified price indices compiled and disseminated by national statistical agencies, the role of national statistical agencies becomes central to the credibility of monetary policy.
- Notes shifts in data needs and uses with implications for national and international statistics compilation.
Key findings
- Inflation targeting has produced a close interface between central banks and national statistical agencies.
- Market data have gained in importance for monetary policy under inflation targeting.
- Less emphasis is placed on traditional monetary aggregates in inflation-targeting regimes.
- Greater attention is paid to:
- Timeliness of data.
- Adherence to sound economic accounting standards.
- Other aspects of data quality.
Subject coverage and keywords
- Subjects: Banking; Consumer price indexes; Inflation; Inflation targeting; Monetary policy; Price indexes; Price stabilization; Prices.
- Keywords: Africa; Australia and New Zealand; BOOK; Caribbean; Consumer price indexes; Europe; Global; Inflation; inflation expectation; Inflation targeting; inflation-targeting country; inflation-targeting regime; monetary policy; monetary policy committee; North America; policy regime; Price indexes; Price stabilization; West Africa.