Inflation Targeting Under Imperfect Policy Credibility
Title | Inflation Targeting Under Imperfect Policy Credibility PDF eBook |
Author | |
Publisher | |
Pages | 32 |
Release | 2009 |
Genre | Economic stabilization |
ISBN |
IMF Working Papers
Title | IMF Working Papers PDF eBook |
Author | Turgut Kisinbay |
Publisher | |
Pages | |
Release | 2009 |
Genre | Electronic books |
ISBN |
Why Inflation Targeting?
Title | Why Inflation Targeting? PDF eBook |
Author | Charles Freedman |
Publisher | International Monetary Fund |
Pages | 27 |
Release | 2009-04-01 |
Genre | Business & Economics |
ISBN | 145187233X |
This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in generating boom-bust cycles. Following a general discussion of the need for a nominal anchor, we describe a specific type of monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the time-inconsistency problem. We conclude by providing a brief introduction to the way in which inflation targeting works.
Essays on Inflation Targeting, Price Stability and the Conduct of Monetary Policy Under Imperfect Credibility
Title | Essays on Inflation Targeting, Price Stability and the Conduct of Monetary Policy Under Imperfect Credibility PDF eBook |
Author | |
Publisher | |
Pages | 176 |
Release | 2005 |
Genre | |
ISBN |
Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility
Title | Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility PDF eBook |
Author | Peter Isard |
Publisher | |
Pages | 46 |
Release | 2001 |
Genre | Anti-inflationary policies |
ISBN |
Inflation Targets, Credibility, and Persistence in a Simple Sticky-price Framework
Title | Inflation Targets, Credibility, and Persistence in a Simple Sticky-price Framework PDF eBook |
Author | Jeremy Bay Rudd |
Publisher | |
Pages | 50 |
Release | 2003 |
Genre | Inflation (Finance) |
ISBN |
A Model for Full-Fledged Inflation Targeting and Application to Ghana
Title | A Model for Full-Fledged Inflation Targeting and Application to Ghana PDF eBook |
Author | Jihad Dagher |
Publisher | International Monetary Fund |
Pages | 32 |
Release | 2010-01-01 |
Genre | Business & Economics |
ISBN | 1451962444 |
A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the variability of output and the interest rate, as well as deviations of inflation from the long-term low-inflation target. The optimal approach from initial high inflation to the ultimate target is gradual; and transitional inflation-reduction objectives are flexible. Over time, as policy earns credibility, expectations of inflation converge towards the long-run target, the output-inflation variability tradeoff improves, and optimal policy responses to shocks moderate.