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Inflation Targeting Regimes
Carare, Alina; Stone, Mark R. - International Monetary Fund (IMF) - 2003
This paper classifies countries that define their monetary policy framework by an inflation target into full-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes. This classification is based on indicators of the clarity and credibility of the commitment...
Persistent link: https://www.econbiz.de/10005825645
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Current Issues in the Design and Conduct of Monetary Policy
Khan, Mohsin S. - International Monetary Fund (IMF) - 2003
Movements in global capital during the late 1990s and the greater emphasis on price stability led many countries to abandon fixed exchange rate regimes and to design institutions and monetary policies to achieve credibility in the goal of lowering inflation. Such recent developments have brought...
Persistent link: https://www.econbiz.de/10005825662
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Analyzing Determinants of Inflation When there Are Data Limitation:The Case of Sierra Leone
Kalonji, Kadima D.; Gottschalk, Jan; Miyajima, Ken - International Monetary Fund (IMF) - 2008
in Sierra Leone. As economic theory predicts, domestic inflation is found to increase with higher oil prices, higher …
Persistent link: https://www.econbiz.de/10005825688
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Nominal Income Targeting; A Critical Evaluation
Argy, Victor E. - International Monetary Fund (IMF) - 1991
This paper evaluates the proposal that government authorities ought to target nominal income. It begins by viewing the literature in some detail. It then undertakes a theoretical analysis of the proposal first for the small country and next for the large country. There is then a general...
Persistent link: https://www.econbiz.de/10005825863
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Selected Issues Concerning Monetary Policy and Institutional Design for Central Banks; A Review of Theories
Beddies, Christian H. - International Monetary Fund (IMF) - 2000
In the past decades, much work has been geared toward solving the problem of time inconsistency in monetary policy and analyzing the coordination problem between fiscal and monetary policy. This paper provides a review of the theoretical background to these theories, while also focusing on their...
Persistent link: https://www.econbiz.de/10005826014
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A Political Agency Theory of Central Bank Independence
Eggertsson, Gauti B.; Borgne, Eric Le - International Monetary Fund (IMF) - 2003
We propose a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks … to an independent agency. We apply this theory to monetary policy by extending a standard dynamic "New …-Keynesian" stochastic general equilibrium model. This model gives a new theory of central bank independence that is unrelated to the …
Persistent link: https://www.econbiz.de/10005826126
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Monetary and Fiscal Coordination in Small Open Economies
Worrell, DeLisle - International Monetary Fund (IMF) - 2000
This paper is concerned with the design of institutional arrangements for low inflation in small open economies. In the real world of information asymmetries, uncertain expectations and changeable preferences, it is not enough to create an autonomous and publicly accountable central bank. In...
Persistent link: https://www.econbiz.de/10005826179
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Establishing Initial Conditions in Support of Inflation Targeting
Zelmer, Marc; Schaechter, Andrea; Stone, Mark R.; … - International Monetary Fund (IMF) - 2002
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
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Angola; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2007
This Selected Issues paper and Statistical Appendix on Angola underlie monetary policy framework. Angola has adopted an anti-inflation policy that has led to a sharp decline in inflation. To institute a monetary policy framework, a nominal anchor or constraint on the value of domestic currency...
Persistent link: https://www.econbiz.de/10011242840
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Macroeconomic Implications of Financial Dollarization; The Case of Uruguay
Gelos, Gaston; Mejía, Alejandro López; Piñón-Farah, … - International Monetary Fund (IMF) - 2008
Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in favor of a free float, adoped a monetary regime initially based on money targets,...
Persistent link: https://www.econbiz.de/10011245904