Open AccessInternational Practice of Inflation Targeting: Israel as a Case Study
Author(s) -
Andrey Fedorchenko,
F. V. Malahov
Publication year - 2013
Publication title -
vestnik mgimo-universiteta
Language(s) - English
Resource type - Journals
eISSN - 2541-9099
pISSN - 2071-8160
DOI - 10.24833/2071-8160-2013-1-28-135-143
Subject(s) - disinflation , inflation targeting , inflation (cosmology) , monetary policy , economics , monetary economics , keynesian economics , macroeconomics , international economics , physics , theoretical physics
The article deals with the transition to inflation targeting, which is a flexible and relatively new method of monetary policy. The Israeli experience in this field is analyzed. The paper shows that, after long periods of high inflation and disinflation the Bank of Israel has adopted the most efficient and painless for other macroeconomic objectives tools.