Monetary Policies and Inflation Targeting in Emerging Economies

image of Monetary Policies and Inflation Targeting in Emerging Economies

This book, based on the proceedings of a conference organised by the OECD and the Bank of England's Centre for Banking Studies,  examines cross-country issues related to the conduct of monetary policy in emerging markets and the role of inflation targeting in improving macroeconomic performance. it includes both cross-country analysis and country-specific case studies.  Countries covered include Brazil, Chile, Colombia, the Czech Republic, Indonesia, Mexico, South Africa and Turkey.



Inflation targeting in Chile: Experience and selected issues

This chapter discusses the Chilean experience with inflation targeting (IT). Emphasis is placed on a number of institutional characteristics of the Chilean IT regime that have contributed to, or acted as a pre-requisite for, a good track record of inflation control. The chapter also sheds light on particular macroeconomic outcomes, including changes in the dynamics of inflation, as well as on selected practical issues in the conduct of monetary policymaking under IT, including the role of inflation expectations and the exchange rate.


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