Resumen

ANGERIZ, Alvaro  y  ARESTIS, Philip. Inflation targeting: assessing the evidence. Inv. Econ [online]. 2009, vol.68, n.spe, pp.21-46. ISSN 0185-1667.

The aim of this paper is to deal with the empirical aspects of the 'new' monetary policy framework, known as inflation targeting. We review the evidence for both developed and emerging economies. The emphasis, though, is on emerging economies, which can be thought of as preparing the ground for the papers to follow that concentrate on the experience with inflation targeting in Brazil, Chile and Mexico. The results gathered in this study demonstrate that although inflation targeting has gone hand-in hand with low inflation, it is very far from declaring the strategy a resounding success. The evidence produced in this paper suggests that non-inflation targeting central banks have also been successful on this score. At a general level this paper should be read as providing the necessary prolegomena for the studies that follow in this special volume on inflation targeting.

Palabras llave : inflation targeting; developed economies; emerging economies.

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