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|z 9781451962444
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Clinton, Kevin.
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|a A Model for Full-Fledged Inflation Targeting and Application to Ghana /
|c Kevin Clinton, Jihad Dagher, Ondrej Kamenik, Douglas Laxton.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2010.
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|a 1 online resource (30 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the variability of output and the interest rate, as well as deviations of inflation from the long-term low-inflation target. The optimal approach from initial high inflation to the ultimate target is gradual; and transitional inflation-reduction objectives are flexible. Over time, as policy earns credibility, expectations of inflation converge towards the long-run target, the output-inflation variability tradeoff improves, and optimal policy responses to shocks moderate.
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|a Mode of access: Internet
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|a Dagher, Jihad.
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|a Kamenik, Ondrej.
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|a Laxton, Douglas.
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|a IMF Working Papers; Working Paper ;
|v No. 2010/025
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2010/025/001.2010.issue-025-en.xml
|z IMF e-Library
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