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For all its virtues, inflation targeting does not resolve all the problems surrounding monetary policy.* "One decade of inflation targeting in the world", by Frederic Mishkin and Klaus Schmidt-Hebbel.
By the end of last year, a further 18 countries, from both the developed and developing world ranging from Britain and Canada to Chile and South Africa—had followed suit.A new study* of the first decade of inflation targeting shows why the bandwagon is rolling.
And even where COLA's weren't written into the contract, the preceding decade of inflation had made workers highly sensitive to rising prices, and employers were quick to raise wages (and their own prices) whenever they saw the cost of living jump.
A horrific decade of inflation and economic stagnation ensued.
The disastrous dollar devaluations of the 1970s that gave us a decade of inflation and stagnation?
But after a decade of inflation, this excise tax could affect more employers, who would have to cut compensation, benefits or pass on the costs to the workers.
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Argentina's has put an end to decades of inflation.
That, say officials, is the price for cleaning up after decades of inflation.
Having finally vanquished decades of inflation, the economy should be able to grow steadily by at least 4% a year.
Adjusted for six decades of inflation, the correct ultimate answer to "The $64,000 Question" would now yield six hundred thousand dollars.
Mr Cardoso ended three decades of inflation, and did much to sort out chaotic public finances and establish an open, market-based, economy (see article).
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