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http://ssrn.com/abstract=248130
 
 

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A Dynamic Approach to Inflation Targeting in Transition Economies


Lucjan T. Orlowski


Sacred Heart University - John F. Welch College of Business

August 2000

ZEI Working Paper No. B00-11

Abstract:     
This study views inflation targeting as a viable monetary regime for more advanced transition economies. A dynamic approach to the trajectory of disinflation and to the flexibility of direct inflation targeting is presented in the context of achieving monetary convergence to the EU/AMU. The candidate countries are advised to begin from strict inflation targeting and to follow with a more flexible inflation targeting regime before they establish a necessary 'foundational credibility' and monetary stability. These steps, ultimately followed by a euro-peg, are necessary in preparing for accession to the eurozone. The early experiences of the Czech Republic and Poland with inflation targeting are examined.

Number of Pages in PDF File: 54

JEL Classification: E32, E52, P33

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Date posted: October 30, 2000  

Suggested Citation

Orlowski, Lucjan T., A Dynamic Approach to Inflation Targeting in Transition Economies (August 2000). ZEI Working Paper No. B00-11. Available at SSRN: http://ssrn.com/abstract=248130 or http://dx.doi.org/10.2139/ssrn.248130

Contact Information

Lucjan T. Orlowski (Contact Author)
Sacred Heart University - John F. Welch College of Business ( email )
5151 Park Avenue
Fairfield, CT 06825
United States
203-371-7858 (Phone)
HOME PAGE: http://www.sacredheart.edu/ltorlowski.cfm
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