STRATEGIJA CILJANJA INFLACIJE U EUROPSKIM ZEMLJAMA

master's thesis

• Title (english): TARGETING INFLATION IN EUROPEAN COUNTRIES
• Author: Luka Bartulić
• Mentor: Marijana Ivanov (mentor)
• Committee member: Marijana Ivanov (predsjednik povjerenstva)
• Committee member: Gordana Kordić (član povjerenstva)
• Committee member: Martina Nakić (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Finance); Zagreb
• Defense date and country: 2020-09-23, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Finance

Abstract

Kako bi osigurale gospodarski rast, punu zaposlenost, makroekonomsku stabilnost te bolji cjelokupni život svojih građana, svaka zemlja mora provoditi adekvatnu ekonomsku i monetarnu politiku. Osiguravanje niske i stabilne inflacije jedan je od najvažnijih uvjeta za održivi ekonomski rast i u većini zemalja je glavni cilj monetarne politike. Postizanje niske i stabilne inflacije je kompleksan zadatak za svaku državu.
Strategije poput ciljanja tečaja ili ciljanja monetarnih agregata koje su se provodile od 1970-ih do 1990-ih godina pokazale su se vrlo neuspješne jer većina zemalja nije uspjela kontrolirati inflaciju na željenoj razini. Zato su odlučile 1990-ih napustiti ovakav tip monetarne strategije i okrenuti se novoj strategiji. Novi Zeland je bila prva država koja je usvojila strategiju ciljanja inflacije, a kasnije Velika Britanija, Izrael, Švedska, Finska itd. Od svog postanka, više od dvadeset zemalja je uvelo strategiju ciljanja inflacije i svake godine se taj broj povećavao.
Pozitivni efekti ciljanja inflacije mogu se vidjeti u kontekstu smanjenja prosječnog nivoa inflacije i inflacijskih očekivanja te neutralnog utjecaja na prosječan ekonomski rast.
Danas, najveći broj razvijenih europskih zemalja koristi ovu strategiju, a među njima su i Švedska, Velika Britanija, Mađarska, Poljska i Češka.

Abstract (english)

In order to ensure economic growth, full employment, macroeconomic stability and a better overall life for its citizens, each country must carry out appropriate economic and monetary policy. Ensuring low and stable inflation is one of the most important conditions for sustainable economic growth and in most of countries is the main goal of monetary policy. Achieving low and stable inflation is a complex task for any country.
Strategies such as exchange rate targeting or monetary aggregate targeting that were implemented from the 1970s to the 1990s proved to be very unsuccessful as most countries failed to control inflation at the desired level. So they decided in the 1990s to abandon this type of monetary strategy and turn to a new strategy. New Zealand was the first country to adopt an inflation targeting strategy, and later the UK, Israel, Sweden, Finland, etc. Since its inception, more than twenty countries have introduced an inflation targeting strategy and this number has been increasing every year.
The positive effects of inflation targeting can be seen in the context of a decrease in the average level of inflation and inflation expectations and a neutral impact on average economic growth.
Today, the largest number of developed European countries use this strategy, and among them are Sweden, Great Britain, Hungary, Poland and the Czech Republic.

• Keywords: inflacija; ciljanje inflacije; monetarne strategije
• Keywords (english): inflation; targeting inflation; monetary strategies
• Language: croatian
• URN:NBN: urn:nbn:hr:148:702598
• Study programme: Title: Business Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to authenticated users
• Created on: 2020-09-24 10:17:28