Why do governments prefer to limit themselves to a specific inflation target? Specialists and senior officials of the European Central bank, the OECD and national central banks look beyond inflation targeting as the goal of monetary policy....

This book looks at very high inflations, exemplified by those suffered by Argentina, Bolivia, Brazil, Israel, Mexico, and Peru in the eighties and by the Soviet Union today. The authors argue that a better grasp of high inflation processes is necessary in order for countries intricated in it to design stabilization strategies....