Record Nr.

UNINA9910809765303321

Autore

Chailloux Alexandre

Titolo

Requirements for using interest rates as an operating target for monetary policy : the case of Tunisia / / prepared by Alexandre Chailloux, Alain Durre, and Bernard J. Laurens

Pubbl/distr/stampa


[Washington, D.C.], : International Monetary Fund, Monetary and Capital Markets Dept., c2009

ISBN

1-4623-5980-9

1-4519-9331-5

1-282-84363-X

9786612843631

1-4518-7296-8

Edizione

[1st ed.]

Descrizione fisica

1 online resource (47 p.)

Collana

IMF working paper ; ; WP/09/149

Altri autori (Persone)

DurreAlain

LaurensBernard

Disciplina

332.152

Soggetti

Monetary policy

Interest rates

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

"July 2009."

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

Contents; I. Introduction; Boxes; 1. Objectives of the 11th Economic Plan; II. Overview of Tunisia's Program of Economic Reforms; A. Financial Sector Reforms; B. External Sector and Policies; 2. Summary of Exchange Arrangements; C. Monetary Policy Framework; III. Using Interest Rates as the Operating Target: Money Market Deepening; A. Interbank Money Market and Liquidity Management in Tunisia; Figures; 1. Key Monetary Indicators; B. Monetary Management: Assessment and Way Forward; 3. Monetary Policy Instruments; C. Money Market Deepening

1. Estimates of an Interest Rate Reaction FunctionB. Strengthening Compliance with the Building Blocks of Inflation Targeting; 2. Compliance with the Building Blocks of an IT Framework; VI. Concluding Remarks; Appendices; I. Tunisia: Monetary Targeting Framework; II. Inflation Targeting in Emerging Economies; Appendix Tables; 3. Tunisia: Reforms in the Monetary, Financial and External; 4.

Detailed Compliance with the Building Blocks; 5. Unit Root Tests; References

Sommario/riassunto

This paper discusses the use of interest rates as the operating target for monetary policy in Tunisia and the roadmap for establishing the other building blocks of an inflation targeting framework. It argues that strengthening the effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time.