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Record Nr. |
UNINA9910788336503321 |
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Autore |
Freedman Charles |
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Titolo |
Why Inflation Targeting? / / Charles Freedman, Douglas Laxton |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2009 |
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ISBN |
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1-4623-4972-2 |
1-4527-2989-1 |
1-4518-7233-X |
1-282-84306-0 |
9786612843068 |
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Descrizione fisica |
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1 online resource (27 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Inflation (Finance) |
Anti-inflationary policies |
Foreign Exchange |
Inflation |
Money and Monetary Policy |
Economic Theory |
Production and Operations Management |
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) |
Price Level |
Deflation |
Central Banks and Their Policies |
Monetary Policy |
Macroeconomics: Production |
Agriculture: Aggregate Supply and Demand Analysis |
Prices |
Macroeconomics |
Monetary economics |
Currency |
Foreign exchange |
Economic theory & philosophy |
Inflation targeting |
Conventional peg |
Output gap |
Supply shocks |
Monetary policy |
Production |
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Economic theory |
Supply and demand |
United Kingdom |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Cost of Inflation and Boom-Bust Cycles; A. What Are the Costs of High Inflation?; B. Policy Credibility and Boom-Bust Cycles; Figures; 1. United Kingdom Inflation, Unemployment and Policy Credibility; III. Need for A Nominal Anchor; Tables; 1. Inflation Targeting Adoption Dates; IV. What is Inflation Targeting?; V. Two Key Intellectual Roots of Inflation Targeting; A. Absence of Long-Run Trade-Offs; Box 2.1; 1. Six Principles of Inflation Targeting; 2. Output-Inflation Tradeoffs in the Short Run and Long Run |
3. IRFs for a Positive Demand Shock Under Good and Bad Monetary Policy4. IRFs for a Positive Supply Shock Under Good and Bad Monetary Policy; 2. Reduced-Form Inflation Equations Under Good and Bad Monetary Policy; B. The Time-Inconsistency Problem; 5. Taylor Output-Inflation Efficiency Frontiers; VI. How Does IT Work?; References |
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Sommario/riassunto |
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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 generating boom-bust cycles. Following a general discussion of the need for a nominal anchor, we describe a specific type of monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the time-inconsistency problem. We conclude by providing a brief introduction to the way in which inflation targeting works. |
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