It Framework Design Parameters
Electronic Access:
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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.
Series:
Working Paper No. 2009/087
Subject:
Consumer price indexes Economic theory Inflation Inflation targeting Monetary policy Output gap Prices Production Supply shocks
English
Publication Date:
April 1, 2009
ISBN/ISSN:
9781451872347/1018-5941
Stock No:
WPIEA2009087
Pages:
16
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