05277oam 22012134 450 991078833650332120230721045708.01-4623-4972-21-4527-2989-11-4518-7233-X1-282-84306-09786612843068(CKB)3170000000055251(EBL)1608264(SSID)ssj0000940729(PQKBManifestationID)11528526(PQKBTitleCode)TC0000940729(PQKBWorkID)10955825(PQKB)10516716(OCoLC)586097937(MiAaPQ)EBC1608264(IMF)WPIEE2009086(EXLCZ)99317000000005525120020129d2009 uf 0engur|n|---|||||txtccrWhy Inflation Targeting? /Charles Freedman, Douglas LaxtonWashington, D.C. :International Monetary Fund,2009.1 online resource (27 p.)IMF Working PapersDescription 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 targeting works.IMF Working Papers; Working Paper ;No. 2009/086Inflation (Finance)Anti-inflationary policiesForeign ExchangeimfInflationimfMoney and Monetary PolicyimfEconomic TheoryimfProduction and Operations ManagementimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfPrice LevelimfDeflationimfCentral Banks and Their PoliciesimfMonetary PolicyimfMacroeconomics: ProductionimfAgriculture: Aggregate Supply and Demand AnalysisimfPricesimfMacroeconomicsimfMonetary economicsimfCurrencyimfForeign exchangeimfEconomic theory & philosophyimfInflation targetingimfConventional pegimfOutput gapimfSupply shocksimfMonetary policyimfProductionimfEconomic theoryimfSupply and demandimfUnited KingdomimfInflation (Finance)Anti-inflationary policies.Foreign ExchangeInflationMoney and Monetary PolicyEconomic TheoryProduction and Operations ManagementPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Price LevelDeflationCentral Banks and Their PoliciesMonetary PolicyMacroeconomics: ProductionAgriculture: Aggregate Supply and Demand AnalysisPricesMacroeconomicsMonetary economicsCurrencyForeign exchangeEconomic theory & philosophyInflation targetingConventional pegOutput gapSupply shocksMonetary policyProductionEconomic theorySupply and demandFreedman Charles1139411Laxton Douglas1462103DcWaIMFBOOK9910788336503321Why Inflation Targeting3685570UNINA