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IT Framework Design Parameters

Author/Editor: Freedman, Charles | Laxton, Douglas
Authorized for Distribution: April 1, 2009
Electronic Access: Free Full Text (PDF file size is 759KB)
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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.

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.
 
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Series: Working Paper No. 09/87
Subject(s): Information technology | Inflation targeting | Monetary policy | Inflation | Inflation rates | Central banks | Data collection | Data analysis
Author's keyword(s): Inflation Targeting | Monetary Policy
 
English  
    Published:   April 1, 2009        
            Format:   Paper
    Stock No:   WPIEA2009087   Pages:   16
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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