Why inflation targeting? / / prepared by Charles Freedman and Douglas Laxton
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| Autore: |
Freedman Charles
|
| Titolo: |
Why inflation targeting? / / prepared by Charles Freedman and Douglas Laxton
|
| Pubblicazione: | [Washington D.C.], : International Monetary Fund, 2009 |
| Edizione: | 1st ed. |
| Descrizione fisica: | 1 online resource (27 p.) |
| Disciplina: | 332.152 |
| Soggetto topico: | Inflation (Finance) |
| Anti-inflationary policies | |
| 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.: | 9910812022103321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF working paper ; ; WP/09/86.