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Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including …Part I. The frontiers of monetary policymaking. 1. An overview of inflation-forecast targeting -- Part II. Principles … and practices of inflation-forecast targeting. 2. First principles -- 3. Managing expectations -- 4. Nuts and bolts of a …
Persistent link: https://www.econbiz.de/10011874333
This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...
Persistent link: https://www.econbiz.de/10014396173
This paper examines the dynamics of the foreign exchange market. The first half addresses a number of key questions regarding the forecasts of future exchange rates made by market participants, by means of updated estimates using survey data. Here we follow most of the theoretical and empirical...
Persistent link: https://www.econbiz.de/10014396182
The thrust of the report's recommendations to strengthen the institutional framework for self-evaluation, adapt it over … time to changing circumstances, and better disseminate lessons from self-evaluation are well taken. I believe, however …
Persistent link: https://www.econbiz.de/10014408591
I would like to thank the Independent Evaluation Office (IEO) for preparing this informative and timely report, which …
Persistent link: https://www.econbiz.de/10014408636
The Managing Director welcomes the IEO's novel report, which identifies recurring issues from past evaluations and assesses progress in addressing them. The report's focus on organizational silos, attention to risks and uncertainty, country and institutional context, evenhandedness, and...
Persistent link: https://www.econbiz.de/10014410568
Executive Directors welcomed the report of the Independent Evaluation Office (IEO) on IMF Advice on Capital Flows …
Persistent link: https://www.econbiz.de/10014408881
This paper reviews the long-term growth performance of the major industrial countries and discusses some of the many factors that have been identified as possible sources of the marked slowdown in growth since the early 1970s. According to the view of different demographic developments across...
Persistent link: https://www.econbiz.de/10014400806
This paper reviews the financial implications of aging for the pension system in Belgium during 1995-2050. Our simulations indicate a strong rise in pension expenditure over the next half century, as is the case in other industrialized countries. In Belgium, the problem is particularly acute in...
Persistent link: https://www.econbiz.de/10014396528
leading indicators model in which broad money growth and private sector credit growth help forecast inflation. A univariate …
Persistent link: https://www.econbiz.de/10014400746