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Inflation-Forecast Targeting

2015-06-24 Business & Economics
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Release : 2015-06-24
Genre : Business & Economics
Kind : eBook
Book Rating : 653/5 ( reviews)

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Book Synopsis Inflation-Forecast Targeting by : Kevin Clinton

Download or read book Inflation-Forecast Targeting written by Kevin Clinton. This book was released on 2015-06-24. Available in PDF, EPUB and Kindle. Book excerpt: Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully establish a stable, low-inflation environment. To support policy making, each has developed a structured system of forecasting and policy analysis appropriate to its needs. A common component is a model-based forecast with an endogenous policy interest rate path. The approach is characterized, among other things, by transparent communications—some IFT central banks go so far as to publish their policy interest rate projection. Some elements of this regime, although a work still in progress, are worthy of consideration by central banks that have not yet officially adopted full-fledged inflation targeting.

Monetary Economics

2016-04-30 Performing Arts
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Release : 2016-04-30
Genre : Performing Arts
Kind : eBook
Book Rating : 854/5 ( reviews)

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Book Synopsis Monetary Economics by : Steven Durlauf

Download or read book Monetary Economics written by Steven Durlauf. This book was released on 2016-04-30. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.

The Inflation-Targeting Debate

2007-11-01 Business & Economics
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Release : 2007-11-01
Genre : Business & Economics
Kind : eBook
Book Rating : 734/5 ( reviews)

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Book Synopsis The Inflation-Targeting Debate by : Ben S. Bernanke

Download or read book The Inflation-Targeting Debate written by Ben S. Bernanke. This book was released on 2007-11-01. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.

Inflation Forecast Targeting

1996 Anti-inflationary policies
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Release : 1996
Genre : Anti-inflationary policies
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Inflation Forecast Targeting by : Lars E. O. Svensson

Download or read book Inflation Forecast Targeting written by Lars E. O. Svensson. This book was released on 1996. Available in PDF, EPUB and Kindle. Book excerpt: Inflation targeting is shown to imply inflation forecast targeting: the central bank's inflation forecast becomes an explicit intermediate target. Inflation forecast targeting simplifies both implementation and monitoring of monetary policy. The weight on output stabilization determines how quickly the inflation forecast is adjusted towards the inflation target. Money growth or exchange rate targeting is generally inferior to inflation targeting and leads to higher inflation variability. Commitment to commitment to.

Inflation-Forecast Targeting for India

2017-03-03 Business & Economics
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Release : 2017-03-03
Genre : Business & Economics
Kind : eBook
Book Rating : 30X/5 ( reviews)

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Book Synopsis Inflation-Forecast Targeting for India by : Mr.Jaromir Benes

Download or read book Inflation-Forecast Targeting for India written by Mr.Jaromir Benes. This book was released on 2017-03-03. Available in PDF, EPUB and Kindle. Book excerpt: India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic developments since 2000 and the experience of other countries that adopted FIT to bring out insights on how credible policy with an emphasis on a strong nominal anchor can reduce the impact of supply shocks and improve macroeconomic stability. For illustrating the key issues given the unique structural characteristics of India and the policy options under an FIT framework, the paper describes an analytical framework using the core quarterly projection model (QPM). Simulations of the QPM are carried out to illustrate the monetary policy responses under different types of uncertainty and to bring out the importance of gaining credibility for improving monetary policy efficacy.

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