Inflation Targeting In Practice: Strategic And Operational Issues And Application To Emerging Market (Itpsea0000000) - Softcover
Inhaltsangabe
There is widespread and growing consensus that the single most important goal of monetary policy should be the pursuit of price stability. To reflect this an increasing number of central banks have been granted independence and charged with the exclusive objective of controlling inflation. In January 1999 the Central Bank of Brazil decided to adopt an explicit inflation targeting approach. To inform this process the Bank and the International Monetary Fund held a seminar in Rio de Janeiro on 3-5 May 1999, from which this publication arose. The seminar's purpose was to analyse the experience of countries that have been operating under an inflation targeting framework, and to identify and review the steps that countries like Brazil should consider in adopting such a framework, to enhance the chances of its success. Experts from 10 central banks joined with officials from the Central Bank of Brazil and the IMF for an in-depth examination of recent experience, including aspects of the design and operation of inflation targeting in both developed and emerging economies. This report brings together summaries of the presentations given at the seminar, and presents a concise guide to the theoretical considerations and practical aspects that are key in assessing the benefits and costs of adopting an inflation targeting monetary strategy.
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Reseña del editor
There is widespread and growing consensus that the single most important goal of monetary policy should be the pursuit of price stability. To reflect this an increasing number of central banks have been granted independence and charged with the exclusive objective of controlling inflation. In January 1999 the Central Bank of Brazil decided to adopt an explicit inflation targeting approach. To inform this process the Bank and the International Monetary Fund held a seminar in Rio de Janeiro on 3-5 May 1999, from which this publication arose. The seminar's purpose was to analyse the experience of countries that have been operating under an inflation targeting framework, and to identify and review the steps that countries like Brazil should consider in adopting such a framework, to enhance the chances of its success. Experts from 10 central banks joined with officials from the Central Bank of Brazil and the IMF for an in-depth examination of recent experience, including aspects of the design and operation of inflation targeting in both developed and emerging economies. This report brings together summaries of the presentations given at the seminar, and presents a concise guide to the theoretical considerations and practical aspects that are key in assessing the benefits and costs of adopting an inflation targeting monetary strategy.
Reseña del editor
A growing number of countries are anchoring their monetary policy through explicit inflation targeting. This policy has already scored remarkable successes in several countries, establishing central bank credibility, and reining in inflation where it had long been stubbornly high. But implementing inflation targets raises many difficult questions. What prerequisites must an economy and its institutions meet for the strategy to work? What choices should central banks make from the menu of possible variations on the basic approach? This book summarizes the discussions in a seminar at which economists and policymakers from ten countries reviewed their experiences with inflation targeting.
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Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies
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Paperback. Zustand: As New. 94 like new paperback pages. Artikel-Nr. SKU1016345