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Lars Jonung. Foto.

Lars Jonung

Professor emeritus

Lars Jonung. Foto.

Pioneering price level targeting : The Swedish experience 1931-1937*

Författare

  • Claes Berg
  • Lars Jonung

Summary, in English

In September 1931, Sweden became the first country to make the stabilization of the domestic price level the official goal of its monetary policy, actually the only country that so far has adopted such an explicit price level target. Starting from the issues and concepts familiar from research and policy experience of inflation targeting - as contrasted to price level targeting - this paper examines the evolution of the Swedish price level targeting in the 1930s. We bring out a number of similarities and differences between price stabilization in the 1930s and in the 1990s.

Publiceringsår

1999-06

Språk

Engelska

Sidor

525-551

Publikation/Tidskrift/Serie

The ICFAI Journal of Monetary Economics

Volym

43

Issue

3

Dokumenttyp

Artikel i tidskrift

Ämne

  • Economic History

Nyckelord

  • price level stabilization
  • inflation targeting
  • monetary policy
  • Knut Wicksell
  • Sweden
  • E52
  • E58
  • E31

Status

Published

ISBN/ISSN/Övrigt

  • ISSN: 0972-9291