iPhones, iCrises and iTargets: Inflation Targeting is eradicating International Financial Crises in the iPhone era
CEPR Policy Insight No 100
Inflation targeting has shown remarkable resilience, popularity, and effectiveness since its inception. Its use as the favoured global monetary framework is no longer in doubt, while robust testing of its performance over the last decade have further cemented its reputation. As the Rose notes in this Policy Insight, its durability and flexibility could just mean that no one has proposed a better monetary framework than inflation targeting simply because there isn't one.