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Implementing Inflation Targeting: Institutional Arrangements, Target Design, and Communications
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Author/Editor: |
Heenan, Geoffrey | Peter, Marcel | Roger, Scott |
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December 1, 2006 |
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Electronic Access: |
Free Full Text (PDF file size is 617KB)
Use the free Adobe Acrobat Reader to view this PDF file.
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: Transparency is a central element in most aspects of the design and operation of inflation targeting regimes. This paper focuses on three elements of inflation targeting most closely associated with transparency: (i) the institutional arrangements supporting inflation targeting; (ii) the specification of the inflation target; and (iii) the central bank's policy communications. The paper is primarily aimed at providing practical advice to countries planning to develop an inflation targeting framework, but many of the issues are relevant for any credible, independent monetary policy.
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Series: |
Working Paper No. 06/278 |
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Subject(s): |
Inflation targeting | Monetary policy | Transparency | Central banks |
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Author's keyword(s): |
Monetary policy
| inflation targeting
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Published: |
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December 1, 2006 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2006278 |
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Pages: |
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57 |
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Price: |
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US$18.00
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