Inflation Targeting As A Framework For Monetary Policy
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Inflation Targeting As A Framework For Monetary Policy
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1998-10-02
Inflation Targeting As A Framework For Monetary Policy written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-02 with Business & Economics categories.
Inflation distorts prices, erodes savings, discourages investment,stimulates capital flight, inhibits growth, and makes economic planning anightmare. During the past decade, several advanced economies have takena new approach to the age-old problem of controlling inflation throughmonetary policy known as "inflation targeting." This pamphlet explainsthe requirements of putting the new policy in place, the experience of the countries that have tried it, and whether it has applicability todeveloping countries.
Inflation Targeting As A Framework For Monetary Policy
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Author : Guy Debelle
language : en
Publisher: International Monetary Fund
Release Date : 1998-10-02
Inflation Targeting As A Framework For Monetary Policy written by Guy Debelle and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-02 with Business & Economics categories.
Copyright: International Monetary Fund.
Inflation Targeting As A Framework For Monetary Policy
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Author :
language : en
Publisher:
Release Date : 1998
Inflation Targeting As A Framework For Monetary Policy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Anti-inflationary policies categories.
Explains the requirements for putting a monetary policy in place, reviews the experience of the seven industrial countries that have tried it and discusses whether inflation targeting has a wider applicability to developing countries.
Inflation Targeting
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Author : Mr.J. H. Green
language : en
Publisher: International Monetary Fund
Release Date : 1996-06-01
Inflation Targeting written by Mr.J. H. Green and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-06-01 with Business & Economics categories.
As with many monetary policy frameworks, inflation targeting is subject to the well-known problem of inflation bias. With inflation targeting, however, the bias becomes apparent not as inflation above desired levels, but as a wedge between the announced target and observed inflation. This inconsistency could render the framework neither credible nor enforceable since the target is overshot on average. The problem can be addressed by assigning price stability as the single policy objective or by assigning a joint target for both inflation and output, provided that they are consistent. Many inflation targeting countries take the joint target approach implicitly through transparency measures which publicly assess monetary conditions in terms of potential output and output gaps.
Inflation Targeting In Practice
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Author : Guy Debelle
language : en
Publisher: International Monetary Fund
Release Date : 1997-03
Inflation Targeting In Practice written by Guy Debelle and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-03 with Business & Economics categories.
In recent years, an inflation targeting framework for monetary policy has been adopted in a number of industrial countries. This paper discusses the practical issues that have arisen under the operation of the new framework, and highlights five features of the framework: the assignment of the target, the interaction with other policy goals, the definition of the target, accountability and the role of inflation forecasts. The economic performance of the inflation targeting countries thus far is summarized.
Monetary Policy Frameworks In A Global Context
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Author : Lavan Mahadeva
language : en
Publisher: Routledge
Release Date : 2012-11-12
Monetary Policy Frameworks In A Global Context written by Lavan Mahadeva and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-12 with Business & Economics categories.
This broad-ranging collection assesses the links between targets and central bank independence, accountability and the transparency of monetary policy. Renowned experts contribute to this original and comprehensive text which will be of great value to professional economists and students of economics and banking alike. Monetary Policy Frameworks in a Global Context was named Book of the Year, 2000 by Central Banking journal
From Monetary Targeting To Inflation Targeting
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Author : Frederic S. Mishkin
language : en
Publisher: World Bank Publications
Release Date : 2001
From Monetary Targeting To Inflation Targeting written by Frederic S. Mishkin and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Anti-inflationary policies categories.
Experience with monetary targeting suggests that although it successfully controlled inflation in Switzerland and especially Germany, the special conditions that made it work reasonably well in those two countries are unlikely to be satisfied elsewhere. Inflation targeting is more likely to improve economic performance in countries that choose to have an independent domestic monetary policy, but there are subtleties in how inflation targeting is done. Lessons from industrial countries should be useful to central banks designing a framework for monetary policy.
Implementing Inflation Targeting
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Author : Marcel Peter
language : en
Publisher: International Monetary Fund
Release Date : 2006-12
Implementing Inflation Targeting written by Marcel Peter and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-12 with Business & Economics categories.
Transparency is a central element in most aspects of the design and operation of inflation targeting regimes. This paper focuses on three elements of inflation targeting most closely associated with transparency: (i) the institutional arrangements supporting inflation targeting; (ii) the specification of the inflation target; and (iii) the central bank's policy communications. The paper is primarily aimed at providing practical advice to countries planning to develop an inflation targeting framework, but many of the issues are relevant for any credible, independent monetary policy.
Inflation Targeting Lite
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Author : Mr.Mark R. Stone
language : en
Publisher: International Monetary Fund
Release Date : 2003-01-01
Inflation Targeting Lite written by Mr.Mark R. Stone and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Business & Economics categories.
Inflation targeting lite (ITL) countries float their exchange rate and announce an inflation target, but are not able to maintain the inflation target as the foremost policy objective. This paper identifies 19 emerging market countries as practitioners of ITL. They seem to focus mainly on bringing inflation into the single digits and maintaining financial stability. ITL can be viewed as a transitional regime aimed at buying time for the implementation of the structural reforms needed for a single credible nominal anchor. The important policy challenges for an ITL central bank include whether or not to precommit to a single anchor.
The Scope For Inflation Targeting In Developing Countries
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Author : Mr.Paul R. Masson
language : en
Publisher: International Monetary Fund
Release Date : 1997-10-01
The Scope For Inflation Targeting In Developing Countries written by Mr.Paul R. Masson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-10-01 with Business & Economics categories.
Inflation targeting (IT) serves as monetary policy framework in several advanced economies, where it has enhanced policy transparency and accountability. The paper considers its wider applicability to developing countries. The prerequisites for a successful IT framework are identified as an ability to carry out an independent monetary policy (free of fiscal dominance or commitment to another nominal anchor, like the exchange rate) and a quantitative framework linking policy instruments to inflation. These prerequisites are largely absent among developing countries, though several of them could with some further institutional changes and an overriding commitment to low inflation make use of an IT framework.