通货膨胀目标制理论与实证研究综述

通货膨胀目标制是20世纪90年代开始实施的一种新型的货币政策理论,各国金融经济学家们对这种新的理论框架开展了大量的理论和实证研究.通货膨胀目标制通过钉住通货膨胀可以减低通货膨胀预期、增强中央银行透明度和责任度,从而提高货币政策和中央银行的可信度,这对新兴市场和转型国家的宏观经济发展和货币政策目标的选择具有一定的借鉴意义.

A Summary of Literatures on the Feasibility of the Inflation Targeting Regime

There are a large amount of theoretical and empirical research literatures about inflation targeting regime - a new type of monetary policy theory founded in 1990s. Under the regime, an inflation target is decided so that the inflation expectation is limited and the transparency and accountability of the central bank are enhanced, which then increase the reliability and trustiness of the monetary policies and the central bank. The theory and experiences provide lessons for monetary policy makers from new emerging markets and transforming countries for the development of macro - economy.