هدفگذاری تورمی: تجربه بیش از 14 سال نیوزیلند

The usually-cited reasons for adopting inflation targeting were certainly present in New Zealand when that country became the first to adopt inflation targeting in the late 1980s. The paper describes the advantages of having the inflation target agreed by government and central bank, the relatively undemanding pre-conditions for inflation targeting and the considerable evolution in the approach to policy which took place in New Zealand in the 1990s. There is also a brief discussion of the pros and cons of having a single decision-maker, and of the similarities in practice between central banks with a single mandate and those with a dual mandate.