Verfügbarkeit: A Model for Full-Fledged Inflation Targeting and Application to Ghana

A Model for Full-Fledged Inflation Targeting and Application to Ghana:

A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the variability of output and the interest rate, as well a...

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1. Verfasser:	Clinton, Kevin (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2010
Schriftenreihe:	IMF Working Papers Working Paper No. 10/25
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Zusammenfassung:	A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the variability of output and the interest rate, as well as deviations of inflation from the long-term low-inflation target. The optimal approach from initial high inflation to the ultimate target is gradual; and transitional inflation-reduction objectives are flexible. Over time, as policy earns credibility, expectations of inflation converge towards the long-run target, the output-inflation variability tradeoff improves, and optimal policy responses to shocks moderate
Beschreibung:	1 Online-Ressource (30 p)
ISBN:	1451962444 9781451962444

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series2	IMF Working Papers
spelling	Clinton, Kevin Verfasser aut A Model for Full-Fledged Inflation Targeting and Application to Ghana Clinton, Kevin Washington, D.C International Monetary Fund 2010 1 Online-Ressource (30 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 10/25 A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the variability of output and the interest rate, as well as deviations of inflation from the long-term low-inflation target. The optimal approach from initial high inflation to the ultimate target is gradual; and transitional inflation-reduction objectives are flexible. Over time, as policy earns credibility, expectations of inflation converge towards the long-run target, the output-inflation variability tradeoff improves, and optimal policy responses to shocks moderate Online-Ausg Alichi, Ali Sonstige oth Dagher, Jihad Sonstige oth Kamenik, Ondra Sonstige oth Laxton, Douglas Sonstige oth Mills, Marshall Sonstige oth http://elibrary.imf.org/view/IMF001/10702-9781451962444/10702-9781451962444/10702-9781451962444.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Clinton, Kevin A Model for Full-Fledged Inflation Targeting and Application to Ghana
title	A Model for Full-Fledged Inflation Targeting and Application to Ghana
title_auth	A Model for Full-Fledged Inflation Targeting and Application to Ghana
title_exact_search	A Model for Full-Fledged Inflation Targeting and Application to Ghana
title_exact_search_txtP	A Model for Full-Fledged Inflation Targeting and Application to Ghana
title_full	A Model for Full-Fledged Inflation Targeting and Application to Ghana Clinton, Kevin
title_fullStr	A Model for Full-Fledged Inflation Targeting and Application to Ghana Clinton, Kevin
title_full_unstemmed	A Model for Full-Fledged Inflation Targeting and Application to Ghana Clinton, Kevin
title_short	A Model for Full-Fledged Inflation Targeting and Application to Ghana
title_sort	a model for full fledged inflation targeting and application to ghana
url	http://elibrary.imf.org/view/IMF001/10702-9781451962444/10702-9781451962444/10702-9781451962444.xml
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