04047oam 22010334 450 991078840160332120230828232649.01-4623-2456-81-4527-2995-61-283-51472-91-4519-0975-69786613827173(CKB)3360000000443645(EBL)3014381(SSID)ssj0000943257(PQKBManifestationID)11502959(PQKBTitleCode)TC0000943257(PQKBWorkID)10975386(PQKB)10056556(OCoLC)698585628(MiAaPQ)EBC3014381(IMF)WPIEE2006262(EXLCZ)99336000000044364520020129d2006 uf 0engur|n|---|||||txtccrStabilizing Inflation in Iceland /Keiko Honjo, Benjamin HuntWashington, D.C. :International Monetary Fund,2006.1 online resource (37 p.)IMF Working Papers"December 2006."1-4518-6522-8 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. EFFICIENT POLICY FRONTIERS AND THEIR IMPLICATIONS""; ""IV. THE POTENTIAL CONTRIBUTION OF COUNTERCYCLICAL FISCAL POLICY""; ""V. POSSIBLE ADJUSTMENTS TO POLICY FRAMEWORK""; ""VI. CONCLUSIONS""; ""APPENDIX I. THE COMPLETE MODEL""; ""APPENDIX II. DATA AND ESTIMATION RESULTS""; ""APPENDIX III. ESTIMATION RESULTS FOR ICELAND MODEL WITH FISCAL POLICY""; ""REFERENCES""This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open economy such as Iceland. Estimated macroeconomic models of Canada, Iceland, New Zealand, the United Kingdom, and the United States are used to derive efficient monetary policy frontiers that trace out the locus of the lowest combinations of inflation and output variability that are achievable under a range of alternative monetary policy rules. These frontiers illustrate that inflation stabilization is more challenging in Iceland than in other industrial countries primarily because of the relative magnitudes of the economic shocks.IMF Working Papers; Working Paper ;No. 2006/262Inflation (Finance)IcelandFinanceIcelandInflationimfMacroeconomicsimfMoney and Monetary PolicyimfPublic FinanceimfProduction and Operations ManagementimfPrice LevelimfDeflationimfFiscal PolicyimfMonetary PolicyimfMacroeconomics: ProductionimfMonetary economicsimfFiscal policyimfInflation targetingimfFiscal stanceimfOutput gapimfPricesimfMonetary policyimfProductionimfEconomic theoryimfIcelandimfInflation (Finance)FinanceInflationMacroeconomicsMoney and Monetary PolicyPublic FinanceProduction and Operations ManagementPrice LevelDeflationFiscal PolicyMonetary PolicyMacroeconomics: ProductionMonetary economicsFiscal policyInflation targetingFiscal stanceOutput gapPricesMonetary policyProductionEconomic theoryHonjo Keiko1558714Hunt Benjamin895004DcWaIMFBOOK9910788401603321Stabilizing Inflation in Iceland3849987UNINA