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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.

Inflation Forecast Targeting for India Outline of the Analytical Framework

2017 Inflation targeting
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Author :
Release : 2017
Genre : Inflation targeting
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Inflation Forecast Targeting for India Outline of the Analytical Framework by :

Download or read book Inflation Forecast Targeting for India Outline of the Analytical Framework written by . This book was released on 2017. 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."--Abstract.

Inflation-Forecast Targeting for India

2017-02-13 Business & Economics
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Author :
Release : 2017-02-13
Genre : Business & Economics
Kind : eBook
Book Rating : 695/5 ( 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 2017-02-13. 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.

Quarterly Projection Model for India

2017-03-03 Business & Economics
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Release : 2017-03-03
Genre : Business & Economics
Kind : eBook
Book Rating : 229/5 ( reviews)

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Book Synopsis Quarterly Projection Model for India by : Mr.Jaromir Benes

Download or read book Quarterly Projection Model for India written by Mr.Jaromir Benes. This book was released on 2017-03-03. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates several India-specific features like the importance of the agricultural sector and food prices in the inflation process; features of monetary policy transmission and implications of an endogenous credibility process for monetary policy formulation. The paper also describes key properties and historical decompositions of some important macroeconomic variables.

Taking Stock of IMF Capacity Development on Monetary Policy Forecasting and Policy Analysis Systems

1993 Business & Economics
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Author :
Release : 1993
Genre : Business & Economics
Kind : eBook
Book Rating : 27X/5 ( reviews)

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Book Synopsis Taking Stock of IMF Capacity Development on Monetary Policy Forecasting and Policy Analysis Systems by : John C. Odling-Smee

Download or read book Taking Stock of IMF Capacity Development on Monetary Policy Forecasting and Policy Analysis Systems written by John C. Odling-Smee. This book was released on 1993. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes stock of forecasting and policy analysis system capacity development (FPAS CD), drawing extensively on the experience and lessons learned from developing FPAS capacity in the central banks. By sharing the insights gained during FPAS CD delivery and outlining the typical tools developed in the process, the paper aims to facilitate the understanding of FPAS CD within the IMF and to inform future CD on building macroeconomic frameworks. As such, the paper offers a qualitative assessment of the experience with FPAS CD delivery and the use of FPAS in the decision-making process in central banks.

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