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101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
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200 10$aHybrid Inflation Targeting Regimes /$fCarlos Garcia, Jorge Restrepo, Scott Roger
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2009.
215   $a57 p. $cill
225 1 $aIMF Working Papers
300   $a"October 2009."
311   $a1-4519-1799-6 
330 3 $aThis paper uses a DSGE model to examine whether including the exchange rate explicitly in the central bank's policy reaction function can improve macroeconomic performance. It is found that including an element of exchange rate smoothing in the policy reaction function is helpful both for financially robust advanced economies and for financially vulnerable emerging economies in handling risk premium shocks. As long as the weight placed on exchange rate smoothing is relatively small, the effects on inflation and output volatility in the event of demand and cost-push shocks are minimal. Financially vulnerable emerging economies are especially likely to benefit from some exhange rate smoothing because of the perverse impact of exchange rate movements on activity.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2009/234
606   $aInflation (Finance)
606   $aAnti-inflationary policies
606   $aForeign Exchange$2imf
606   $aInflation$2imf
606   $aInvestments: General$2imf
606   $aMoney and Monetary Policy$2imf
606   $aPrice Level$2imf
606   $aDeflation$2imf
606   $aInvestment$2imf
606   $aCapital$2imf
606   $aIntangible Capital$2imf
606   $aCapacity$2imf
606   $aMonetary Policy$2imf
606   $aCurrency$2imf
606   $aForeign exchange$2imf
606   $aMacroeconomics$2imf
606   $aMonetary economics$2imf
606   $aExchange rates$2imf
606   $aReturn on investment$2imf
606   $aInflation targeting$2imf
606   $aReal exchange rates$2imf
606   $aPrices$2imf
606   $aSaving and investment$2imf
606   $aMonetary policy$2imf
607   $aSingapore$2imf
615  0$aInflation (Finance)
615  0$aAnti-inflationary policies.
615  7$aForeign Exchange
615  7$aInflation
615  7$aInvestments: General
615  7$aMoney and Monetary Policy
615  7$aPrice Level
615  7$aDeflation
615  7$aInvestment
615  7$aCapital
615  7$aIntangible Capital
615  7$aCapacity
615  7$aMonetary Policy
615  7$aCurrency
615  7$aForeign exchange
615  7$aMacroeconomics
615  7$aMonetary economics
615  7$aExchange rates
615  7$aReturn on investment
615  7$aInflation targeting
615  7$aReal exchange rates
615  7$aPrices
615  7$aSaving and investment
615  7$aMonetary policy
700   $aGarcia$b Carlos$0447199
701   $aRestrepo$b Jorge$0402651
701   $aRoger$b Scott$01497280
712 02$aInternational Monetary Fund.$bMonetary and Capital Markets Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788227003321
996   $aHybrid Inflation Targeting Regimes$93741574
997   $aUNINA