Inflation Targeting In A Small Open Economy

DOWNLOAD

Download Inflation Targeting In A Small Open Economy PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Inflation Targeting In A Small Open Economy book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

Inflation Targeting In A Small Open Economy

DOWNLOAD
Author : Alan Sutherland
language : en
Publisher:
Release Date : 2001

Inflation Targeting In A Small Open Economy written by Alan Sutherland and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Anti-inflationary policies categories.

Inflation Targeting Lite In Small Open Economies

DOWNLOAD
Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2005-09-01

Inflation Targeting Lite In Small Open Economies 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 2005-09-01 with Business & Economics categories.

This paper develops a new macrofinance model for small open economies, allowing the investigation of Mauritius's experience with 'inflation targeting lite' as described in Stone (2003). It finds that this monetary policy regime has been associated with a general reduction in inflation, principally through a reduction in inflation expectations. The credibility the Bank of Mauritius has established with its 'inflation targeting lite' regime has allowed it to shift from an emphasis on exchange rate targeting towards inflation targeting. By estimating a model in which the yield curve is modeled explicitly we are able to obtain estimates of inflation expectations.

Exchange Rate Effects And Inflation Targeting In A Small Open Economy

DOWNLOAD
Author : Reserve Bank of New Zealand
language : en
Publisher:
Release Date : 1999

Exchange Rate Effects And Inflation Targeting In A Small Open Economy written by Reserve Bank of New Zealand and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Foreign exchange rates categories.

Hybrid Inflation Targeting Regimes

DOWNLOAD
Author : Jorge Restrepo
language : en
Publisher: International Monetary Fund
Release Date : 2009-10-01

Hybrid Inflation Targeting Regimes written by Jorge Restrepo 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 2009-10-01 with Business & Economics categories.

This paper uses a DSGE model to examine whether including the exchange rate explicitly in the central bank's policy reaction function can improve macroeconomic performance. It is found that including an element of exchange rate smoothing in the policy reaction function is helpful both for financially robust advanced economies and for financially vulnerable emerging economies in handling risk premium shocks. As long as the weight placed on exchange rate smoothing is relatively small, the effects on inflation and output volatility in the event of demand and cost-push shocks are minimal. Financially vulnerable emerging economies are especially likely to benefit from some exhange rate smoothing because of the perverse impact of exchange rate movements on activity.

Inflation Targeting In A Small Open Economy

DOWNLOAD
Author : Nargis Bharucha
language : en
Publisher:
Release Date : 1998

Inflation Targeting In A Small Open Economy written by Nargis Bharucha and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Inflation (Finance) categories.

This paper investigates the merits of aggregate inflation targeting compared with non-traded inflation targeting using a model of a small open economy producing traded and non-traded goods. An important innovation of our approach is that we isolate the effects of exchange rate, supply and demand shocks by analysing the conditional variance of macroeconomic variables. We show that monetary policy should be more activist in response to exchange rate shocks for a flexible aggregate inflation target than for a flexible non-traded inflation target. However, in response to demand and supply shocks monetary policy is more activist for a flexible non-traded inflation target. The result is robust to the inclusion of forward-looking expectations, gradual exchange rate pass-through, and discretionary policy. In order to avoid excessive volatility in product and financial markets, it may be preferable to target inflation over a medium-term horizon.

Inflation Targeting And Capital Openness In The Small Open Economy

DOWNLOAD
Author : Sanchita Mukherjee
language : en
Publisher:
Release Date : 2011

Inflation Targeting And Capital Openness In The Small Open Economy written by Sanchita Mukherjee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

Monetary Policy And Exchange Rate Volatility In A Small Open Economy

DOWNLOAD
Author : Jordi Galí
language : en
Publisher:
Release Date : 2002

Monetary Policy And Exchange Rate Volatility In A Small Open Economy written by Jordi Galí and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Anti-inflationary policies categories.

We lay out a small open economy version of the Calvo sticky price model, and show how the equilibrium dynamics can be reduced to a tractable canonical system in domestic inflation and the output gap. We employ this framework to analyze the macroeconomic implications of three alternative monetary policy regimes for the small open economy: domestic inflation targeting, CPI targeting and an exchange rate peg. We show that a key difference among these regimes lies in the relative amount of exchange rate volatility that they entail. We also discuss a special case for which domestic inflation targeting constitutes the optimal policy, and where a simple second order approximation to the utility of the representative consumer can be derived and used to evaluate the welfare losses associated with suboptimal regimes.

Price Level Versus Inflation Targeting In A Small Open Economy

DOWNLOAD
Author : Gabriel Srour
language : en
Publisher:
Release Date : 2001

Price Level Versus Inflation Targeting In A Small Open Economy written by Gabriel Srour and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.

Price Level Versus Inflation Targeting In A Small Open Economy

DOWNLOAD
Author : Bank of Canada
language : en
Publisher:
Release Date : 2001

Price Level Versus Inflation Targeting In A Small Open Economy written by Bank of Canada and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Inflation (Finance) categories.

Inflation Targeting And Exchange Rate Rules In An Open Economy

DOWNLOAD
Author : Mr.Eric Parrado
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2004-02-01

Inflation Targeting And Exchange Rate Rules In An Open Economy written by Mr.Eric Parrado 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 2004-02-01 with Business & Economics categories.

This paper provides a simple dynamic neo-Keynesian model that can be used to analyze the impact of monetary policy that considers inflation targeting in a small open economy. This economy is characterized by imperfect competition and short-run price rigidity. The main findings of the paper are that, depending on what shocks affect the economy, the effects of inflation targeting on output and inflation volatility depend crucially on the exchange rate regime and the inflation index being targeted. First, in the presence of real shocks, flexible exchange rates dominate managed exchange rates, while for nominal shocks the reverse is true. Second, domestically generated inflation targeting is preferable to CPI inflation targeting, because the former is more stabilizing not only in relation to both measures of inflation, but also to the output gap and the real exchange rate. Finally, flexible inflation targeting outperforms strict inflation targeting in terms of welfare.