What Measure of Inflation Should a Developing Country Central Bank Target? /
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained and...
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| Другие авторы: | , |
| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
2015.
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| Серии: | IMF Working Papers; Working Paper ;
No. 2015/205 |
| Online-ссылка: | Full text available on IMF |