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Inflation Targeting Under Imperfect Policy Credibility

International Monetary Fund - 2009

This paper presents a model for Inflation Targeting under imperfect policy credibility. It modifies the conventional … model in three ways: an endogenous policy credibility process, by which monetary policy can gain or lose credibility over … time; non-linearities in the inflation equation and in the credibility generating process; and an explicit loss function …

Persistent link: https://www.econbiz.de/10014402503

Inflation Targeting and Output Growth : Empirical Evidence for the European Union

International Monetary Fund - 2005

credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These …

Persistent link: https://www.econbiz.de/10014400852

Simulating the Effects of Some Simple Coordinated versus Uncoordinated Policy Rules

International Monetary Fund - 1989

Effects of different policy rules are simulated: uncoordinated targeting of the money supply or nominal income, use of monetary policy to achieve coordinated targets for nominal or real exchange rates, and the use of monetary and fiscal policies to hit targets for internal and external balance....

Persistent link: https://www.econbiz.de/10014396458

Advancing the frontiers of monetary policy

Adrian, Tobias (ed.); Laxton, Douglas (ed.); … - 2018

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also outlines efficient operational procedures and reviews the experiences of Canada, the Czech Republic, and India. The analysis...

Persistent link: https://www.econbiz.de/10011874333

A Simple Dge Model for Inflation Targeting

International Monetary Fund - 2007

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT) emerging market economies. The paper uses a particularly simple and flexible general equilibrium model structure that can be amended to account for various phenomena that...

Persistent link: https://www.econbiz.de/10014400322

Monetary Policy Strategies

International Monetary Fund - 1988

paper also discusses mechanisms for mitigating credibility problems and emphasizes that arguments against various types of …

Persistent link: https://www.econbiz.de/10014395820

Inflation Targeting As a Framework for Monetary Policy

International Monetary Fund - 1998

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...

Persistent link: https://www.econbiz.de/10014397664

Inflation Targeting and the IMF

International Monetary Fund - 2006

Inflation targeting is becoming the monetary policy framework of choice in a growing number of emerging market and developing countries. This paper examines the experience of non-industrial inflation targeting countries to review the implications for the Fund's approach to surveillance,...

Persistent link: https://www.econbiz.de/10014409839

Weathering the Global Storm : The Benefits of Monetary Policy Reform in the La5 Countries

International Monetary Fund - 2010

, and operational reforms during the last two decades enabled central banks to build credibility about their commitment with …

Persistent link: https://www.econbiz.de/10014402930

Capital Mobility and Monetary Policy in Colombia

International Monetary Fund - 1988

This paper estimates a model of financial markets in Colombia to examine: 1) the authorities’ control over domestic interest rates and the money stock; and 2) the effects of the crawling peg exchange rate policy on exchange rate expectations and domestic interest rates. The authorities...

Persistent link: https://www.econbiz.de/10014395788

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