It Framework Design Parameters / Douglas Laxton, Charles Freedman.

Format:

Book

Government document

Author/Creator:

Laxton, Douglas.

Contributor:

Freedman, Charles.

Series:

IMF Working Papers; Working Paper ; No. 2009/087

IMF Working Papers

Language:

English

Subjects (All):

Inflation (Finance).

Anti-inflationary policies.

Physical Description:

1 online resource (18 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2009.

Language Note:

English

Summary:

This is the third chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." It examines a number of elements in the design of an inflation-targeting framework. These include the definition of the target variable, the relevance of core measures of inflation, and the advantages and disadvantages of point targets, point targets with a band, and range targets. It then discusses the choice of a long-term inflation rate, the target horizon, and the policy horizon.

Contents:

Contents; I. Introduction; II. Definition of the Target Variable; III. Core Inflation; IV. Point Target, Point Target with Band, and Range Target; Figures; 1. UK Inflation Expectations 10 Years Ahead; V. Choice of Long-Term Inflation Rate; VI. Target Horizon; VII. Loss Function and Policy Horizon; 2. Responses to Unfavorable and Favorable Supply Shocks (Positive Shock Circle; Negative Shock Triangle); References

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9786612843075

9781462310371

1462310370

9781452727875

1452727872

9781451872347

1451872348

9781282843073

1282843079

OCLC:

466426938