Prague Economic Papers 2002, 11(3):237-254 | DOI: 10.18267/j.pep.196

Inflation targeting in poland (a comparison with the czech republic)

Helena Horská
Česká spořitelna, a. s., Na Perštýně 1, CZ - 113 97 Prague 1 (e-mail: hhorska@csas.cz).

This paper deals with the implementation of the inflation targeting regime in Poland. The study contributes to the discussion about opportunities and constraints of inflation targeting in the more advanced transitive economies. This analysis of monetary policy issues is based on an econometric investigation of the Polish inflation time series and on the estimation of the links between monetary policy instruments and inflation. In comparison with the Czech Republic, the Polish inflation targeting strategy faces more obstacles and limitations that are caused by the structural characteristics of Polish inflation and the country's less advanced money market.

Keywords: disinflation, inflation targeting, central bank, Poland, crawling peg
JEL classification: C22, E52, E58, P33

Published: January 1, 2002  Show citation

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
Horská, H. (2002). Inflation targeting in poland (a comparison with the czech republic). Prague Economic Papers, 11(3), 237-254. doi: 10.18267/j.pep.196
Download citation
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Open full article

    References

    1. Debelle, G., Masson, P., Savastano, M., Sharma, S. (1998), "Inflation Targeting as a Framework for Monetary Policy". Washington D.C., International Monetary Fund Economic Issues, 15. Go to original source...
    2. Edwards, S. (2000), "Does the Current Account Matter"? NBER's Conference on Crisis Prevention". Cambridge, MA, NBER.
    3. Gottschalk, J., Moore, D. (1999), "Implementation Inflation Targeting Regimes - The Case of Poland". Kiel, The Kiel Institute of World Economics, Kiel Working Paper No. 956.
    4. Horská, H. (2000), "Inflation Targeting and Disinflation in the Czech Republic". Kiel, Kiel Institute of World Economics, Kiel Advanced Studies Working Paper Series, Working Paper No. 364.
    5. Horská, H. (2001), "Inflation Targeting and Monetary Policy Rule of the Czech National Bank". Prague Economic Papers, 10 (4), pp. 309-322. Go to original source...
    6. Christiano, L. J., Fitzgerald, T. J. (2000), "Understanding the Fiscal Theory of the Price Level". Cambridge, MA, NBER Working Paper No. 7668. Go to original source...
    7. Christoffersen, P. F., Wescott, R. (1999), "Is Poland Ready for Inflation Targeting"? Washington, IMF Working Paper No. 41. Go to original source...
    8. "Inflation Targeting" (2000). The American Economic Review, 90 (2), pp. 100-104. Go to original source...
    9. Jonáš, J. (2000), "Inflation Targeting in Transition Economies: Some Issues and Experience", in Inflation Targeting in Transition Economies. Prague, Czech National Bank.
    10. Monetary Policy Council (1998), Medium-Term Strategy of Monetary Policy (1999-2003). Warsaw, September.
    11. NBP (2000), Monetary Policy Council (2000), Monetary Policy Guidelines for the Year 2001. Warsaw, National Bank of Poland.
    12. Orlowski, L. T. (2000), "A Dynamic Approach to Inflation Targeting in Transition Economies". Bonn, Center for European Integration Studies, ZEI Working Paper No. B00-11. Go to original source...
    13. Schobert, F. (2001), "Seigniorage: An Argument for Having a National Currency"? Paper presented during the ZEW Summer School. Mannheim, 8-11 May.
    14. Svensson, L. E. O. (1999), "Monetary Policy Issues for the Eurosystem". Carnegie Rochester Series on Public Policy, 51 (1), pp. 79-136. Go to original source...
    15. Svensson, L. E. O. (2000), "Open-economy Inflation Targeting". Journal of International Economics, 50, pp. 155-183. Go to original source...

    This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.


    Return to the content