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This paper provides some practical advice on establishing initial conditions in support of an inflation-targeting monetary framework. These conditions are divided into four areas: a mandate in support of an inflation objective and accountability for achieving this objective; macroeconomic...
Persistent link: https://www.econbiz.de/10005826527
Persistent link: https://www.econbiz.de/10005767372
This paper discusses how the choice of central banks' operating targets influences the use of their monetary policy instruments and how the latter affect the central bank's balance sheet. This is of particular interest, since the monetary conditionality in IMF-supported programs has...
Persistent link: https://www.econbiz.de/10005769284