03229nam 2200601Ia 450 991046401060332120170821160658.01-4623-4972-21-4527-2989-11-4518-7233-X1-282-84306-09786612843068(CKB)3170000000055251(EBL)1608264(SSID)ssj0000940729(PQKBManifestationID)11528526(PQKBTitleCode)TC0000940729(PQKBWorkID)10955825(PQKB)10516716(OCoLC)586097937(MiAaPQ)EBC1608264(EXLCZ)99317000000005525120041202d2009 uf 0engur|n|---|||||txtccrWhy inflation targeting?[electronic resource] /prepared by Charles Freedman and Douglas Laxton[Washington D.C.] International Monetary Fund20091 online resource (27 p.)IMF working paper ;WP/09/86Description based upon print version of record.1-4519-1668-X Includes bibliographical references.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 Run3. 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?; ReferencesThis 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 targeIMF working paper ;WP/09/86.Inflation (Finance)Anti-inflationary policiesElectronic books.Inflation (Finance)Anti-inflationary policies.Freedman Charles873379Laxton Douglas860295MiAaPQMiAaPQMiAaPQBOOK9910464010603321Why inflation targeting2025813UNINA