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|Additional Physical Format:||Print version:
Important elements for inflation targeting for emerging economies.
[Washington, D.C.] : International Monetary Fund, 2010
|Material Type:||Document, Government publication, International government publication, Internet resource|
|Document Type:||Internet Resource, Computer File|
|All Authors / Contributors:||
Charles Freedman; İnci Ötker; International Monetary Fund. Monetary and Capital Markets Department,
|ISBN:||1283556138 9781283556132 9781452729862 1452729867|
|Description:||1 online resource (21 pages) : color illustrations.|
|Contents:||Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Priority of Inflation Targeting Over Other Goals; III. Absence of Fiscal Dominance; IV. Central Bank Independence; V.A Considerable Degree of Control Over the Policy Instrument; VI. Reasonable Methodology for Forecasting; VII. Sound Financial Institutions and Markets and Resilience to Change In Exchange Rates and Interest Rates; VIII. Some Empirical Evidence; 1. Emerging-Market Preconditions and Current Conditions (1=Current Best Practice). 2. Preconditions and Current Conditions in Emerging-Market and Industrial Countries (1=Current Best Practice)1. Initial Conditions When Countries Adopted Inflation Targeting; IX. Summary; Appendix: Background and Brief Summary of the Book On Implementing Full-Fledged Inflation Targeting Regimes: Saying What You Do and Doing What You Say; References; Footnotes.|
|Series Title:||IMF working paper, WP/10/113.|
|Responsibility:||prepared by Charles Freedman and Inci Ötker-Robe.|
This is the fifth chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." It examines whether certain conditions have to be met before emerging economies can adopt an inflation-targeting regime and provides some empirical evidence on the matter. The issues analyzed are the priority of inflation targeting over other goals, the absence of fiscal dominance, central bank independence, the degree of control over the policy interest rate, a sound methodology for forecasting, and the soundness of financial institutions and markets, and resilience to changes in exchange rates and interest rates.
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