What operating procedures should be adopted to maintain price stability? practical issues

Abstract

In this paper I provide a broad-brush examination from a practitioner's point of view, of some of the issues relating to the maintenance of price stability. I focus mainly on a framework in which the centerpiece of policy is an explicit target range for inflation control, of the sort that has been used in recent years in New Zealand, Canada, the United Kingdom, Sweden, Finland and a number of other countries. However, I also make references...

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