Economics · Monetary Economics & Central Banking
A topic within Monetary Economics & Central Banking, itself one of 10 topics in that field and part of Economics.
No prior grounding assumed.
The Inflation Target Ten Years On
Mervyn King · 2002
A decade after adoption, the United Kingdom's inflation target had earned credibility not by removing judgement from monetary policy but by giving…
Assumes you know the vocabulary.
Inflation Targeting: A New Framework for Monetary Policy?
Ben S. Bernanke & Frederic S. Mishkin · 1997
A public numerical inflation target disciplines monetary policy and anchors expectations better than either fixed exchange rates or opaque…
+1 more at this level
Primary sources and full treatments.
Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets
Lars E. O. Svensson · 1997
An inflation-targeting central bank should set its instrument so that its own conditional inflation forecast, not current inflation, hits the target…
4 works
Mervyn King
A decade after adoption, the United Kingdom's inflation target had earned credibility not by removing judgement from monetary policy but by giving the public a clear, checkable standard against which to hold the Bank of England to account.
14 pageslink checked 17 Sept 2026Ben S. Bernanke & Frederic S. Mishkin
A public numerical inflation target disciplines monetary policy and anchors expectations better than either fixed exchange rates or opaque discretion, without requiring a mechanical rule that ignores everything else the central bank observes.
20 pageslink checked 17 Sept 2026Olivier Blanchard, Giovanni Dell'Ariccia & Paolo Mauro
The low inflation targets and light financial regulation that defined pre-crisis consensus policy left central banks too little room to cut rates before hitting the zero lower bound, arguing for higher targets and a larger role for macroprudential tools.
18 pageslink checked 17 Sept 2026Lars E. O. Svensson
An inflation-targeting central bank should set its instrument so that its own conditional inflation forecast, not current inflation, hits the target — making the forecast itself the intermediate target of policy.
27 pageslink checked 17 Sept 2026