出版社：University of Bucharest and Nicolae Titulescu University
摘要：The purpose of this paper is to define the inflation targeting strategy and its characteristics.Inflation targeting is a monetary policy strategy in which the central bank projected estimates andmakes public, or “target” inflation rate and then, attempts to steer actual inflation towards thetarget through the use of interest rate changes and other monetary tools. Early proposals ofmonetary systems targeting the price level or the inflation rate, rather then exchange rate,followed the general crisis of the gold standard after the World War I. Inflation is usuallymeasured as the change of prices for consumer goods, called Consumer Price Index (CPI).Inflation targeting assumes that this figure accurately represents growth or money supply, but isnot always the case. The most serious exception occurs when factors external to the nationaleconomy are the cause of the price increase. A more essential objection to the strategy of inflationtargeting is that it does not really comprise a specific set of monetary policy recommendationwould traditional monetarism did, but just constitutes an explicit statement of the aims of themonetary authority.
关键词：inflation targeting; monetary policy; central bank; monetary strategy
