Working Papers in full text
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Other research-related activities and publications of the IMF can be found at IMF Research
|
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
|
|
|
|
Modalities of Moving to Inflation Targeting in Armenia and Georgia
|
Author/Editor: |
Dabla-Norris, Era | Kim, Daehaeng | Zermeno Livas, Mayra Rebecca | Billmeier, Andreas | Kramarenko, V. |
| Authorized for Distribution: |
June 1, 2007 |
|
Electronic Access: |
Free Full Text (PDF file size is 428KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
|
|
|
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.
|
|
Summary: This paper reviews the current monetary and exchange rate policy frameworks in Armenia and Georgia, and the challenges associated with the choice of a credible nominal anchor in the context of large nominal and real shocks. The paper makes a case for a gradual transition to full-fledged inflation targeting (FFIT) in both countries in the medium term. The implications of this option are examined from various angles. In particular, the monetary transmission mechanisms and compliance with major institutional prerequisites for successful FFIT adoption are analyzed. Based on this analysis, the paper identifies a series of short- and medium-term recommendations, drawing on the experience of emerging market countries that successfully moved to FFIT.
|
|
|
|
Order a print copy
|
|
Series: |
Working Paper No. 07/133 |
|
Subject(s): |
Armenia | Georgia | Monetary policy | Inflation targeting |
|
Author's keyword(s): |
Armenia | Georgia | monetary policy | inflation targeting |
|
|
|
|
| |
Published: |
|
June 1, 2007 |
|
|
|
|
| |
ISBN/ISSN: |
|
1934-7073 |
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA2007133 |
|
Pages: |
|
36 |
| |
Price: |
|
US$18.00 (Academic Rate: US$18.00 )
|
|
|
|
|
|
|
