Özet:

The economic convergence that emerged after the 2008 crisis has led to questioning the success of the inflation targeting regime and discussing alternative monetary policies. The recommendation of many economists, including Jeffery A. Frankel, who are involved in these discussions, is the Nominal GDP target. Financial instability, high unemployment, stagnation, etc. In solving the problems, the inflation targeting policy has remained ineffective and the need for monetary policy regimes that can be controlled in other economic goals alongside inflation has increased. For this reason, in this study, the historic development of monetary policy will be examined until the inflation targeting regime. Finally, the advantages and disadvantages of the inflation targeting regime will be discussed, a comparative analysis with the Nominal GDP targeting will be carried out.

Anahtar Kelimeler: