A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include …: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the … variability of output and the interest rate, as well as deviations of inflation from the long-term low-inflation target. The …

In a first attempt to treat inflation targeting (IT) as a continuous variable, we construct IT subindices for 21 full … (1) the impact of flexibility on both the mean and variation of inflation is more quadratic than that of transparency; (2 … association between transparency and the level and variation of inflation is confirmed when we check for robustness by controlling …

This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation …-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in … monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the …

Transparency is a central element in most aspects of the design and operation of inflation targeting regimes. This … paper focuses on three elements of inflation targeting most closely associated with transparency: (i) the institutional … arrangements supporting inflation targeting; (ii) the specification of the inflation target; and (iii) the central bank's policy …

Turkey (CBRT). Instead of relying on one interest rate as inflation-targeting, the CBRT resorted to raising it as inflation …

combat inflation. The Executive Board praised authorities for their sound macroeconomic management, and concurred that …

Inflation targeting lite (ITL) countries float their exchange rate and announce an inflation target, but are not able … to maintain the inflation target as the foremost policy objective. This paper identifies 19 emerging market countries as … practitioners of ITL. They seem to focus mainly on bringing inflation into the single digits and maintaining financial stability …