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Inflation targeting in Brazil
Arestis, Philip; de Paula, Luiz Fernando Rodrigues; … - 2008
the case of Brazil. The IT monetary policy regime has been adopted by a significant number of countries. While the focus … of this paper is on Brazil, which began inflation targeting in 1999, we also examine the experience of other countries … compare the experience of Brazil with that of non-IT countries, and ask the question of whether adopting IT makes a difference …
Persistent link: https://www.econbiz.de/10010276235
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Asset class diversification and delegation of responsibilities between central banks and sovereign wealth funds
Aizenman, Joshua; Glick, Reuven - 2010
This paper presents a model comparing the optimal degree of asset class diversification abroad by a central bank and a sovereign wealth fund. We show that if the central bank manages its foreign asset holdings in order to meet balance of payments needs, particularly in reducing the probability...
Persistent link: https://www.econbiz.de/10010333067
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Asset class diversification and delegation of responsibilities between central banks and sovereign wealth funds
Aizenman, Joshua; Glick, Reuven - 2010
This paper presents a model comparing the optimal degree of asset class diversification abroad by a central bank and a sovereign wealth fund. We show that if the central bank manages its foreign asset holdings in order to meet balance of payments needs, particularly in reducing the probability...
Persistent link: https://www.econbiz.de/10010287783
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Dangerous liaisons? An empirical assessment of inflation targeting and exchange rate regimes
Aguirre, Horacio; Burdisso, Tamara - 2008
The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy discussions -and a challenge for central banks implementing IT, especially in developing countries. This paper aims at assessing whether there is a relation between the nominal...
Persistent link: https://www.econbiz.de/10010325099
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Leading Indicators of Real Activity and Inflation for Turkey, 2001-2010
Altug, Sumru; Uluceviz, Erhan - 2011
This paper develops a set of leading indicators of industrial production growth and consumer price inflation for the period 2001-2010. The choice of indicators is based on pseudo out-of-sample forecasting exercise implemented by Stock and Watson (2003), amongst others. We find that asset prices...
Persistent link: https://www.econbiz.de/10010500195
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Rational expectations and inflation targeting: An analysis for ten countries
Fromlet, Pia - 2010
In this paper I evaluate inflation targeting for ten countries. The evaluation is based on unconditional as well as conditional measures of the variance of inflation around target. With strict inflation targeting, expectations of the future deviation from target given information about the...
Persistent link: https://www.econbiz.de/10010321410
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Hitting the elusive inflation target
Bianchi, Francesco; Melosi, Leonardo; Rottner, Matthias - 2019
Since the 2001 recession, average core inflation has been below the Federal Reserve's 2% target. This deflationary bias is a predictable consequence of a low nominal interest rates environment. When monetary policy faces the risk of encountering the zero lower bound, in.ation tends to remain...
Persistent link: https://www.econbiz.de/10012429401
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Targeting Inflation in a Dollarized Economy: The Peruvian Experience
Armas, Adrián; Grippa, Francisco - 2005
This discusses the unique experience of Peru`s Central Bank with inflation targeting in an economy characterized by a … high degree of financial dollarization. The paper outlines how Peru has taken financial dollarization into consideration in …
Persistent link: https://www.econbiz.de/10010327093
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Exchange Rate Policy and Inflation Targeting in Colombia
H., Hernando Vargas - 2005
This paper examines Colombia`s experience with an inflation-targeting monetary policy following the abandonment of … policy. The rationale for central bank intervention in the forex market in Colombia is then critically discussed. Finally …
Persistent link: https://www.econbiz.de/10010327189
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Monetary policy under alternative exchange rate regimes in Central and Eastern Europe
Ziegler, Christina - 2012
Monetary policy in CEE is an important determinant in the wage bargaining process, because trade unions have to predict inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an inflation target are tempted to act...
Persistent link: https://www.econbiz.de/10010308235