Monetary Policies and Inflation Targeting in Emerging Economies

Name: Monetary Policies and Inflation Targeting in Emerging Economies
Availability: OutOfStock
ISBN: 9789264044623

ISBN-10: 9264044620

ISBN-13: 9789264044623

Edition: 2008

Authors: Luiz de Mello, Luiz de Mello

List price: $56.00

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Description:

Inflation targeting (IT) is an economic policy in which a country's central bank sets a target inflation rate, then raises or lowers interest rates accordingly to achieve and maintain that level of inflation.This volume looks at the experiences of six emerging-market economies that use inflation targeting —Brazil, Chile, Czech Republic, Indonesia, South Africa, and Turkey. Although the economic circumstances under which IT was put in place vary considerably among these countries, there are some common lessons and policy challenges for all.IT appears to be a generally effective policy, although it is not easy to ascertain the extent of change in macroeconomic performance due solely to its…

Book details

List price: $56.00
Copyright year: 2008
Publisher: Organization for Economic Cooperation & Development
Publication date: 6/2/2008
Binding: Paperback
Pages: 174
Size: 6.00" wide x 9.00" long x 0.50" tall
Weight: 0.132
Language: English



Monetary policy and macroeconomic stability in Latin America: The cases of Brazil, Chile, Colombia and Mexico


Modelling and data


Estimation of the structural model


VAR analysis


Counterfactual analysis


Solving the rational expectations model


Brazil: Taming inflation expectations


Disinflation and recovery in 2003


Inflation rebound and policy response in 2004


Consolidating disinflation in 2005-06


Inflation expectations: convergence to the targets and lower inflation uncertainty


Inflation targeting in Chile: Experience and selected issues


IT in Chile


Selected monetary policy issues under IT


The Czech Republic's inflation targeting experience


The six phases of IT in the Czech Republic


Components of the IT regime


Monetary policy in emerging markets: The case of Indonesia


Indonesia's monetary policy framework: A brief history


The implementation of fully-fledged IT


Limitation of interest-rate responses and co-ordination with government


Conducting monetary policy with an open capital account


Lessons to be learned and policy implications


A closing remark: 2007 and beyond


South Africa's experience with monetary policy within an inflation-targeting policy framework


Assessing the performance of IT in South Africa


Remaining policy challenges


From exchange-rate stabilisation to inflation targeting: Turkey's quest for price stability


The 2001 crisis and the adoption of implicit IT


Putting the preconditions for formal inflation targeting in place


The launch of formal IT


Formal IT (2006-07)


Conclusion and challenges ahead