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The Case for a Long-Run Inflation Target of Four Percent
Ball, Laurence M. - International Monetary Fund (IMF) - 2014
Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to … target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero … cost, because four percent inflation does not harm an economy significantly. …
Persistent link: https://www.econbiz.de/10010790372
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Uganda; Sixth Review Under the Policy Support Instrument and Request for an Extension of the Policy Support Instrument-Staff Report; Press Release on the Executive Board Discussion...
International Monetary Fund (IMF); International … - 2009
This paper discusses key findings of the Sixth Review for Uganda Under the Policy Support Instrument. Structural rigidities continue to pose challenges to macroeconomic management in Uganda. Persistent weaknesses in project implementation coupled with rigidities in domestic financial markets...
Persistent link: https://www.econbiz.de/10011244497
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Brazil: 2012 Article IV Consultation; Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Brazil
International Monetary Fund (IMF); International … - 2012
A strong policy framework and improved income distribution and social outcomes have been important accomplishments in Brazil. The 2012 Article IV Consultation highlights that financial stability in Brazil has been underpinned by a strong banking system and framework for regulation and...
Persistent link: https://www.econbiz.de/10011244712
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Peru; Staff Report for the 2008 Article IV Consultation, Fourth Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Applicability of Performa...
International Monetary Fund (IMF); International … - 2009
This paper presents the staff report for Peru’s 2008 Article IV Consultation, Fourth Review and Inflation …
Persistent link: https://www.econbiz.de/10011244871
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Hungary; First Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Staff Statement; and Press Release on the Executive Board D...
International Monetary Fund (IMF); International … - 2009
This paper discusses key findings of the First Review for Hungary under the Stand-By Arrangement. All end-December 2008 quantitative performance criteria and the continuous performance criterion on nonaccumulation of external arrears were met. The structural performance criterion on submission...
Persistent link: https://www.econbiz.de/10011244967
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Indonesia; 2008 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Indo...
International Monetary Fund (IMF); International … - 2008
should support the rupiah and help dampen inflation, but a more automatic mechanism for recycling official reserves would, in …
Persistent link: https://www.econbiz.de/10011245364
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Russian Federation; 2008 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2008
The 2008 Article IV Consultation with the Russian Federation highlights that the Russian banking system has proven to be relatively resilient in the face of worldwide turmoil. The central bank is still intervening heavily in the foreign exchange market, and Russia’s banking system is...
Persistent link: https://www.econbiz.de/10011245441
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South Africa; 2003 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2004
This 2003 Article IV Consultation highlights that the South African economy performed well in 2002, notwithstanding difficult global economic conditions. Supported by sound macroeconomic management and a highly competitive exchange rate, real GDP growth rose to 3.0 percent in 2002 from 2.8...
Persistent link: https://www.econbiz.de/10005248115
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Inflation Performance and Constitutional Central Bank Independence; Evidence From Latin America and the Caribbean
Gutierrez, Eva - International Monetary Fund (IMF) - 2003
This paper explores the relationship between the constitutional entrenchment of central bank independence and inflation … by the "de jure" independence established in the central bank law, and inflation. We argue that the constitution is … constitution have a better inflation performance. …
Persistent link: https://www.econbiz.de/10005248207
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Imperfect Central Bank Communication; Information Versus Distraction.
Orphanides, Athanasios; Dale, Spencer; Österholm, Pär - International Monetary Fund (IMF) - 2008
Much of the information communicated by central banks is noisy or imperfect. This paper considers the potential benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the value of communicating imperfect information is ambiguous....
Persistent link: https://www.econbiz.de/10005248250