Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies

August 21, 2000

Preview Citation

Format: Chicago

Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies, (USA: International Monetary Fund, 2000) accessed November 22, 2024

Summary

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.

Subject: Consumer price indexes, Exchange rate arrangements, Exchange rates, Foreign exchange, Inflation, Inflation targeting, Monetary policy, Prices

Keywords: Asia and Pacific, BOOK, Consumer price indexes, East Asia, Eastern Europe, Exchange rate arrangements, Exchange rate band, Exchange rates, Global, Inflation, Inflation expectation, Inflation targeting, Inflation targeting framework, Middle East, Monetary policy, Monetary policy decision, Monetary policy transmission mechanism

Publication Details

Pages:

108
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Books
Stock No:

ITPSEA0000000
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Notes

The Central Bank of Brazil and the Monetary and Exchange Affairs Department of the International Monetary Fund held a seminar on inflation targeting in Rio de Janeiro on May 3-5, 1999. Its purpose was to analyze the experience to date of the countries that have been operating under an inflation targeting framework, and to identify and review the steps that Brazil should consider in adopting such a framework, to enhance the chances of its success. This volume gathers together the summaries of the presentations given at the seminar.

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