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What Measure of Inflation Should a Developing Country Central Bank Target?
Anand, Rahul - 2015
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained...
Persistent link: https://www.econbiz.de/10013011206
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Achieving the Bank of Japan's inflation target
Anand, Rahul; Hong, Gee Hee; Hul, Yaroslav - 2019
The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to … analysis (FPAS) for Japan. In the model's baseline scenario, the likelihood of the Bank of Japan reaching its 2 percent … central bank credibility increases this likelihood, and would require less accommodative macroeconomic policies …
Persistent link: https://www.econbiz.de/10012154577
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Optimal Price Indices for Targeting Inflation Under Incomplete Markets
Anand, Rahul - 2010
-maximizing central bank should adopt flexible headline inflation targeting a target for headline CPI inflation with some weight on the …
Persistent link: https://www.econbiz.de/10014397170
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What measure of inflation should a developing country central bank target?
Anand, Rahul; Prasad, Eswar S.; Zhang, Boyang - 2015
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained...
Persistent link: https://www.econbiz.de/10011374720