Title: Disciplined Discretion: Monetary Targeting in Germany and Switzerland
Abstract: This essay offers an analysis of actual German and Swiss monetary policy that explains this gap between operation and performance. It shows that neither country's central bank can be called a monetary targeter, according to a strict, formal definition of targeting, and it argues that the historical record shows a different use for announced monetary targets in these countries.
Publication Year: 1997
Publication Date: 1997-01-01
Language: en
Type: preprint
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Cited By Count: 31
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