Why inflation targeting? / prepared by Charles Freedman and Douglas Laxton.

This is the second chapter of a forthcoming monograph entitled ""On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say."" We begin by discussing the costs of inflation, including their role in generating boom-bust cycles. Following a...

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Bibliographic Details
Main Authors: Freedman, Charles (Author), Laxton, Douglas (Author)
Corporate Author: International Monetary Fund. Research Department
Format: eBook
Language:English
Published: [Washington, DC] : International Monetary Fund (IMF), ©2009.
Series:IMF working paper ; WP/09/86.
Subjects:
Online Access:Click for online access

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245 1 0 |a Why inflation targeting? /  |c prepared by Charles Freedman and Douglas Laxton. 
260 |a [Washington, DC] :  |b International Monetary Fund (IMF),  |c ©2009. 
300 |a 1 online resource (25 pages) :  |b color illustrations 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/09/86 
504 |a Includes bibliographical references (pages 23-25). 
588 0 |a Print version record. 
520 |a This is the second chapter of a forthcoming monograph entitled ""On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say."" We begin by discussing the costs of inflation, including their role in generating boom-bust cycles. Following a general discussion of the need for a nominal anchor, we describe a specific type of monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the time-inconsistency problem. We conclude by providing a brief introduction to the way in which inflation targe 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2011.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2011  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
505 0 |a I. Introduction; II. Cost of Inflation and Boom-Bust Cycles; A. What Are the Costs of High Inflation?; B. Policy Credibility and Boom-Bust Cycles; Figures; 1. United Kingdom Inflation, Unemployment and Policy Credibility; III. Need for A Nominal Anchor; Tables; 1. Inflation Targeting Adoption Dates; IV. What is Inflation Targeting?; V. Two Key Intellectual Roots of Inflation Targeting; A. Absence of Long-Run Trade-Offs; Box 2.1; 1. Six Principles of Inflation Targeting; 2. Output-Inflation Tradeoffs in the Short Run and Long Run 
505 8 |a 3. IRFs for a Positive Demand Shock Under Good and Bad Monetary Policy4. IRFs for a Positive Supply Shock Under Good and Bad Monetary Policy; 2. Reduced-Form Inflation Equations Under Good and Bad Monetary Policy; B. The Time-Inconsistency Problem; 5. Taylor Output-Inflation Efficiency Frontiers; VI. How Does IT Work?; References 
546 |a English. 
650 0 |a Inflation (Finance) 
650 7 |a Inflation (Finance)  |2 fast 
650 7 |a Inflation Targeting.  |2 stw 
700 1 |a Laxton, Douglas,  |e author. 
710 2 |a International Monetary Fund.  |b Research Department. 
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776 0 8 |i Print version:  |a Freedman, Charles.  |t Why inflation targeting?  |d [Washington, DC] : International Monetary Fund (IMF), ©2009  |w (OCoLC)537604215 
830 0 |a IMF working paper ;  |v WP/09/86. 
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