Why Inflation Targeting? / / Charles Freedman, Douglas Laxton

• Autore: Freedman Charles
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Descrizione fisica: 1 online resource (27 p.)
• Soggetto topico: Inflation (Finance); Anti-inflationary policies; Foreign Exchange; Inflation; Money and Monetary Policy; Economic Theory; Production and Operations Management; Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data); Price Level; Deflation; Central Banks and Their Policies; Monetary Policy; Macroeconomics: Production; Agriculture: Aggregate Supply and Demand Analysis; Prices; Macroeconomics; Monetary economics; Currency; Foreign exchange; Economic theory & philosophy; Inflation targeting; Conventional peg; Output gap; Supply shocks; Monetary policy; Production; Economic theory; Supply and demand
• Soggetto geografico: United Kingdom
• Altri autori: LaxtonDouglas
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: 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 Run ; 3. 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?; References
• Sommario/riassunto: This 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.
• Titolo autorizzato: Why Inflation Targeting
• ISBN: 1-4623-4972-2; 1-4527-2989-1; 1-4518-7233-X; 1-282-84306-0; 9786612843068
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788336503321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/086