Monetary Policy Strategy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Policy Strategy write by Frederic S. Mishkin. This book was released on 2007. Monetary Policy Strategy available in PDF, EPUB and Kindle. This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategydescribes his work over the last ten years, offering published papers, new introductory material, and a summing up, "Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask," which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anch fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy.
The Inflation-Targeting Debate
The Inflation-Targeting Debate - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Inflation-Targeting Debate write by Ben S. Bernanke. This book was released on 2007-11-01. The Inflation-Targeting Debate available in PDF, EPUB and Kindle. Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.
Inflation Targeting Regimes
Inflation Targeting Regimes - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Targeting Regimes write by Alina Carare. This book was released on 2003. Inflation Targeting Regimes available in PDF, EPUB and Kindle. This paper classifies countries that define their monetary policy framework by an inflation target into full-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes. This classification is based on indicators of the clarity and credibility of the commitment to the inflation target. The three regimes can be viewed as corresponding to different welfare maximizing combinations of policy objectives, each conditional on a country's "endowed" level of credibility. The credibility of the regimes is related empirically to structural differences. Policy implications are drawn, especially for emerging market countries aiming at full-fledged inflation targeting.
Inflation Targeting in the World Economy
Inflation Targeting in the World Economy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Targeting in the World Economy write by Edwin M Truman. This book was released on 2003-10-27. Inflation Targeting in the World Economy available in PDF, EPUB and Kindle. This study reviews the literature on the contribution of low inflation to economic growth and the subsequent widespread adoption of inflation targeting as a monetary policy framework. Edwin Truman addresses the challenges and risks associated with such a framework. Building on these foundations, the study focuses on two major international economic policy issues: (1) the implications of differing national regimes of inflation targeting for international economic policy cooperation; and (2) the adoption of inflation targeting by emerging-market economies which often lack stable monetary policy environments and credible policy authorities—a situation which, among other things, can complicate the use of the inflation targeting framework as the basis for IMF-supported stabilization programs.
Does Inflation Targeting Matter?
Does Inflation Targeting Matter? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Does Inflation Targeting Matter? write by Laurence M. Ball. This book was released on 2003. Does Inflation Targeting Matter? available in PDF, EPUB and Kindle. This paper asks whether inflation targeting improves economic performance, as measured by the behavior of inflation, output, and interest rates. We compare seven OECD countries that adopted inflation targeting in the early 1990s to thirteen that did not. After the early 90s, performance improved along many dimensions for both the targeting countries and the non-targeters. In some cases the targeters improved by more; for example, average inflation fell by a larger amount. However, these differences are explained by the facts that targeters performed worse than non-targeters before the early 90s, and there is regression to the mean. Once one controls for regression to the mean, there is no evidence that inflation targeting improves performance.
