Applying an Inflation Targeting Lens to Macroprudential Policy 'Institutions'

Release date
17/06/2015
Reference
DP2015/04
Authors
Güneş Kamber; Özer Karagedikli; Christie Smith
Published as

Kamber, Güneş, Özer Karagedikli, Christie Smith (2015). ‘Applying an inflation-targeting lens to macroprodential policy "institutions"’, International Journal of Central Banking, Volume 11(4), Pages 395-429.

We describe the origins of inflation targeting in New Zealand, and then use the four key attributes of inflation targeting - independence, the inflation target, transparency, and accountability - as an organizing device to analyze macroprudential policy 'institutions' - the rules, regulations and governance frameworks that implement macroprudential policies.