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Inflation targeting regimes

Author: Alina Carare; Mark R Stone; International Monetary Fund. Monetary and Exchange Affairs Department.
Publisher: [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Department, ©2003.
Series: IMF working paper, WP/03/9.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Database:WorldCat
Summary:
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 to the inflation target. The three regimes can be viewed as corresponding to different welfare maximizing combinations of  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Carare, Alina.
Inflation targeting regimes.
[Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Department, ©2003
(OCoLC)51723897
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Alina Carare; Mark R Stone; International Monetary Fund. Monetary and Exchange Affairs Department.
ISBN: 1451890796 9781451890792 1281603899 9781281603890
OCLC Number: 646880972
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. MiAaHDL
Description: 1 online resource (36 pages) : illustrations.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: IMF working paper, WP/03/9.
Responsibility: Alina Carare and Mark R. Stone.

Abstract:

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 to the inflation target. The three regimes can be viewed as corresponding to different welfare maximizing combinations of policy objectives, each conditional on a country's "endowed" level of credibility. The credibility of the regimes is related empirically to structural differences. Policy implications are drawn, especially for emerging market countries aiming at full-fledged inflation targeting.

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