02769nam 2200601Ia 450 991081074760332120200520144314.01-4623-2456-81-4527-2995-61-283-51472-91-4519-0975-69786613827173(CKB)3360000000443645(EBL)3014381(SSID)ssj0000943257(PQKBManifestationID)11502959(PQKBTitleCode)TC0000943257(PQKBWorkID)10975386(PQKB)10056556(OCoLC)698585628(IMF)WPIEE2006262(MiAaPQ)EBC3014381(EXLCZ)99336000000044364520060502d2006 uf 0engur|n|---|||||txtccrStabilizing inflation in Iceland /prepared by Keiko Honjo and Benjamin Hunt1st ed.[Washington, D.C.] International Monetary Fundc20061 online resource (37 p.)IMF working paper ;WP/06/262"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 paper ;WP/06/262.Inflation (Finance)IcelandFinanceIcelandInflation (Finance)FinanceHonjo Keiko1617693Hunt Benjamin895004MiAaPQMiAaPQMiAaPQBOOK9910810747603321Stabilizing Inflation in Iceland3955459UNINA