Inflation Targeting and Macroeconomic Stabilization

Mehdi Monadjemi, John Lodewijks


Inflation targeting has been a key objective of the European Monetary Union. This article presents empirical evidence indicating that this macroeconomic objective has been successfully achieved. However, despite expectations that inflation control would provide the foundation for robust and healthy growing economies, other important macroeconomic outcomes have not been achieved. This suggests that inflation targeting is not a sufficient condition for macroeconomic stabilization.

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Research in World Economy
ISSN 1923-3981(Print)ISSN 1923-399X(Online)


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