LEADER 05076oam 22012974 450 001 9910961252003321 005 20250426110132.0 010 $a9786613820167 010 $a9781462378043 010 $a1462378048 010 $a9781452750132 010 $a1452750130 010 $a9781282391734 010 $a1282391739 010 $a9781451910025 010 $a1451910029 035 $a(CKB)3360000000443057 035 $a(EBL)3012517 035 $a(SSID)ssj0000948672 035 $a(PQKBManifestationID)11514950 035 $a(PQKBTitleCode)TC0000948672 035 $a(PQKBWorkID)10995581 035 $a(PQKB)10718010 035 $a(OCoLC)535146902 035 $a(MiAaPQ)EBC3012517 035 $a(IMF)WPIEE2006289 035 $a(IMF)WPIEA2006289 035 $aWPIEA2006289 035 $a(EXLCZ)993360000000443057 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aTesting the Transparency Benefits of Inflation Targeting : $eEvidence from Private Sector Forecasts /$fChristopher Crowe 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (31 p.) 225 1 $aIMF Working Papers 300 $a"December 2006." 311 08$a9781451865493 311 08$a145186549X 320 $aIncludes bibliographical references (p. 26-29). 327 $a""Contents""; ""I. Introduction""; ""II. Theoretical Framework""; ""III. Empirical Strategy and Results""; ""IV. Conclusions""; ""Appendix I. Comparative Statics in The Model of Morris and Shin (2002)""; ""Appendix II. Matching Algorithms""; ""REFERENCES"" 330 3 $aI test whether inflation targeting (IT) enhances transparency using inflation forecast data for 11 IT adoption countries. IT adoption promotes convergence in forecast errors, suggesting that it enhances transparency. This effect is robust to dropping observations, is strengthened by using instrumental variable estimation to eliminate mean-reversion, and is absent in placebo regressions (where IT adoption is shifted by a year). This result supports Morris and Shin's (2002) contention that better public information is most beneficial for forecasters with bad private information. However, it does not support their hypothesis that better public information could make private forecasts less accurate. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/289 606 $aAnti-inflationary policies$xEconometric models 606 $aInflation (Finance)$xForecasting$xEconometric models 606 $aBanking$2imf 606 $aBanks and Banking$2imf 606 $aBanks and banking$2imf 606 $aBanks$2imf 606 $aDeflation$2imf 606 $aDepository Institutions$2imf 606 $aEconomic Forecasting$2imf 606 $aEconomic forecasting$2imf 606 $aEmerging and frontier financial markets$2imf 606 $aFinance$2imf 606 $aFinance: General$2imf 606 $aFinancial services industry$2imf 606 $aForecasting and Other Model Applications$2imf 606 $aForecasting$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInflation targeting$2imf 606 $aInflation$2imf 606 $aMacroeconomics$2imf 606 $aMicro Finance Institutions$2imf 606 $aMonetary economics$2imf 606 $aMonetary Policy$2imf 606 $aMonetary policy$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMortgages$2imf 606 $aPrice Level$2imf 606 $aPrices$2imf 607 $aUnited Kingdom$2imf 615 0$aAnti-inflationary policies$xEconometric models. 615 0$aInflation (Finance)$xForecasting$xEconometric models. 615 7$aBanking 615 7$aBanks and Banking 615 7$aBanks and banking 615 7$aBanks 615 7$aDeflation 615 7$aDepository Institutions 615 7$aEconomic Forecasting 615 7$aEconomic forecasting 615 7$aEmerging and frontier financial markets 615 7$aFinance 615 7$aFinance: General 615 7$aFinancial services industry 615 7$aForecasting and Other Model Applications 615 7$aForecasting 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInflation targeting 615 7$aInflation 615 7$aMacroeconomics 615 7$aMicro Finance Institutions 615 7$aMonetary economics 615 7$aMonetary Policy 615 7$aMonetary policy 615 7$aMoney and Monetary Policy 615 7$aMortgages 615 7$aPrice Level 615 7$aPrices 700 $aCrowe$b Christopher$0868737 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961252003321 996 $aTesting the Transparency Benefits of Inflation Targeting$94371237 997 $aUNINA