EAN: 9783030050771

INFLATION TARGETING AND FINANCIAL STABILITY - M...

Since the financial crisis of 2008 09  the world¿s major central banks have been struggling to
return their economies to higher growth and to reach their inflation targets. This concise book
analyzes the importance of central bank policies for the economy  and specifically investigates
the reasons why they have failed to steer inflation as desired. The author  the Chief Economist
at Allianz SE  argues that  in an environment of great uncertainty concerning the pass-through
of monetary stimulus to the economy  central banks should not focus too narrowly on inflation
targets  but should increasingly take the side effects of their actions into account. In
particular  he contends that they must seek to minimize the risk of financial booms and busts
in order to maximize long-term growth and prosperity. Building on existing research and
contributing to the current debate  the book offers a valuable reference guide and food for
thought for policymakers  professionals and students alike.

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