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PARA POLİTİKASI STRATEJİSİ OLARAK ENFLASYON HEDEFLEMESİNİN ETKİNLİĞİNİN ARTIRILMASI İÇİN ALINMASI GEREKEN ÖNLEMLER

Yıl 2002, Cilt: 5 Sayı: 18, 133 - 139, 28.06.2002
https://doi.org/10.14783/maruoneri.683284

Öz

There has been a consensus on the importance of price stability as the overriding long term objective for monetary policy in literature. Within this context, many industrial and developing economies have recently adopted explicit inflation targeting as their monetary policy regime. Several issues must be taken into consideration if the inflation targeting regime is to be efficient. In particular, they include selecting a relevant price index; specification of the numerical value and horizon for the inflation target; definition of the range of the target variable; providing the central bank with instrument independency; ensuring the transparency and accountability of monetary policy; developing a reliable economic model of inflation.

Kaynakça

  • [1] SHERWIN, M., "Inflation Targeting: 10 Years on", Reserve Bank of New Zealand Bulletin, Vol: 62, No: 3, 1999, s.72-80.
  • [2] SHERWIN, M., "Institutional Frameworks for Inflation Targeting", Reserve Bank of New Zealand Bulletin, Vol: 63, No: 4, 2000, s.28-34.
  • [3] SHERWIN, M., "Strategic Choices in Inflation Targeting: The New Zealand Experience", Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies, ed. Mario l. Blejer, Alain lze, Alfredo M. Leone, Sergio Werlang, IMF, 2000, s.15-27.
  • [4] MISHKIN, F.S.; POSEN, A.S., "Inflation Targeting: Lessons From Countries", FRBNY Economic Policy Review, August, 1997, s.9-110.
  • [5] KAHN, G.A.; PARRISH, K., "Conducting Monetary Policy With Inflation Targets", Federal Reserve of Kansas City Economic Review, Third Quarter, 1998, s.1-32.
  • [6] SIKLOS, P.L., "Inflation Target Design: Changing Iiy‘lation Performance and Persistence in Industrial Countries", Federal Reserve Bank of St Louis Review, Volume: 81, No: 2, March/April 1999, s.47-58.
  • [7] FACHADA, P., Inflation Targeting in Brazil: Reviewing Two Years of Monetary Policy 1999/00, Working Paper Series, No: 25, August, Banco Central do Brasil, 2001.
  • [8] MEYER, L.H., "Inflation Targets and Inflation Targeting", Federal Reserve Bank of St Louis Review, Volume: 83, No: 6, November/December 2001, s.1-14.
  • [9] MISHKIN, F.S., "Issues in Inflation Targeting", Price Stability and the Long-Run Target for Monetary Policy, Bank of Canada, Ottawa, 2001, s.203-222.
  • [10] CENTRAL RESERVE BANK OF PERU, The Inflation Targeting Framework, Study Note 4, July, 1997.
  • [11] RESEARCH DEPARTMENT, Central Bank of Brazil, "Issues In The Adoption of an Inflation Targeting Framework in Brazil", Inflation Targeting In Practice: Strategic and Operational Issues and Application to Emerging Market Economies, ed. Mario l. Blejer, Alain Ize, Alfredo M. Leone, Sergio Werlang, IMF, 2000, s.87-94.
  • [12] FISCHER, S., "Why Are Central Banks Pursuing LongRan Price Stability", Achieving Price Stability, A Symposium Sponsored by the Federal Reserve Bank of Kansas City, Kansas City, 1996, s.7-34.
  • [13] BLEJER, M.l.; LEONE, A.M., "Introduction and Overview", Inflation Targeting In Practice: Strategic and Operational Issues and Application to Emerging Market Economies, ed. Mario 1. Blejer, Alain lze, Alfredo M. Leone, Sergio Werlang, IMF, 2000, s.1-7.
  • [14] CRAWFORD, A.; FRANCOIS, J.; LAFLECHE, T., "Is the CPI a Suitable Measarefor Defining Price Stability? ", Price Stability, Inflation Targets and Monetary Policy, Bank of Canada, Ottawa,1998, s.39-73.
  • [15] CENTRAL RESERVE BANK OF PERU, Underlying Inflation in Peru, Study Note 5, April 1998.
  • [16] KENNEDY, M., "Issues Concerning Inflation Targeting", Inflation Targeting Experiences, TCMB, 2000, s.99-117.
  • [17] KING, M., The Inflation Target Five Years On, Lecture delivered by Mervyn King given at the London School of Economics on 29 October, 1997.
  • [18] WALSH, C.E., Transparency in Monetary Policy, FRBSF Economic Letter, No: 2001-26, September 7, 2001.
  • [19] SVENSSON, L.E.O., Inflation Targeting in an Open Economy: Strict or Flexible Inflation Targeting?, Reserve Bank of New Zealand, Discussion Paper, G97/8, 1997.
  • [20] SVENSSON, L.E.O., Inflation Targeting in Principle and in Practice, Independent Review of the Operation of Monetary Policy: Report to the Minister of Finance, Reserve Bank of New Zealand, Ref: 95988, February 2001.
  • [21] DEBELLE, G.; MASSON, P.; SAVASTANO, M.; SHARMA, S., Inflation Targeting as a Framework for Monetary Policy, Economic Issues, No: 15, IMF, 1998.
Toplam 21 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Eski Sayılar
Yazarlar

Erdal Demirhan Bu kişi benim

Yayımlanma Tarihi 28 Haziran 2002
Yayımlandığı Sayı Yıl 2002 Cilt: 5 Sayı: 18

Kaynak Göster

APA Demirhan, E. (2002). PARA POLİTİKASI STRATEJİSİ OLARAK ENFLASYON HEDEFLEMESİNİN ETKİNLİĞİNİN ARTIRILMASI İÇİN ALINMASI GEREKEN ÖNLEMLER. Öneri Dergisi, 5(18), 133-139. https://doi.org/10.14783/maruoneri.683284

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