Policy Conflicts and Inflation Targeting: The Role of Credit Markets

Policy Conflicts and Inflation Targeting: The Role of Credit Markets
This paper shows that stabilizing volatility in credit growth often conflicts with price stability: unusual credit expansions often occur when inflation is low relative to goals, and credit slumps often appear when inflation is overshooting. We find that central banks with inflation targeting (IT) are responsive to credit conditions in both... READ MORE...

Publication date: April 2018
ISBN 9781484350515
$18.00

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