Advanced

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

Berg, Claes and Jonung, Lars LU (1999) In The ICFAI Journal of Monetary Economics 43(3). p.525-551
Abstract
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.
Please use this url to cite or link to this publication:
author
publishing date
type
Contribution to journal
publication status
published
subject
keywords
price level stabilization, inflation targeting, monetary policy, Knut Wicksell, Sweden, E52, E58, E31
in
The ICFAI Journal of Monetary Economics
volume
43
issue
3
pages
27 pages
external identifiers
  • scopus:0033147665
DOI
10.1016/S0304-3932(99)00004-5
language
English
LU publication?
no
id
138e7342-af24-4500-89f5-3e2bdf881318
date added to LUP
2017-02-23 10:37:15
date last changed
2017-03-16 10:07:38
@article{138e7342-af24-4500-89f5-3e2bdf881318,
  abstract     = {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.},
  author       = {Berg, Claes and Jonung, Lars},
  keyword      = {price level stabilization,inflation targeting,monetary policy,Knut Wicksell,Sweden,E52,E58,E31},
  language     = {eng},
  number       = {3},
  pages        = {525--551},
  series       = {The ICFAI Journal of Monetary Economics},
  title        = {Pioneering price level targeting : The Swedish experience 1931-1937*},
  url          = {http://dx.doi.org/10.1016/S0304-3932(99)00004-5},
  volume       = {43},
  year         = {1999},
}