Inflation-Forecast Targeting : Applying the Principle of Transparency /

Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully establish a stable, low-inflation environment. To support policy making, each has developed a structured system of forecasting and policy ana...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Clinton, Kevin
Muut tekijät: Freedman, Charles, Juillard, Michel, Kamenik, Ondrej
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2015.
Sarja:IMF Working Papers; Working Paper ; No. 2015/132
Linkit:Full text available on IMF
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245 1 0 |a Inflation-Forecast Targeting :   |b Applying the Principle of Transparency /  |c Kevin Clinton, Charles Freedman, Michel Juillard, Ondrej Kamenik. 
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520 3 |a Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully establish a stable, low-inflation environment. To support policy making, each has developed a structured system of forecasting and policy analysis appropriate to its needs. A common component is a model-based forecast with an endogenous policy interest rate path. The approach is characterized, among other things, by transparent communications-some IFT central banks go so far as to publish their policy interest rate projection. Some elements of this regime, although a work still in progress, are worthy of consideration by central banks that have not yet officially adopted full-fledged inflation targeting. 
538 |a Mode of access: Internet 
700 1 |a Freedman, Charles. 
700 1 |a Juillard, Michel. 
700 1 |a Kamenik, Ondrej. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2015/132 
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