Establishing Initial Conditions in Support of Inflation Targeting

This paper provides some practical advice on establishing initial conditions in support of an inflation-targeting monetary framework. These conditions are divided into four areas: a mandate in support of an inflation objective and accountability for achieving this objective; macroeconomic stability; a sufficiently well-developed and stable financial system; and effective policy implementation tools. The measures taken by countries to meet these conditions are also reviewed.

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Year of publication:	2002-06-01
Authors:	Zelmer, Marc ; Schaechter, Andrea ; Stone, Mark R. ; Carare, Alina
Institutions:	International Monetary Fund (IMF)
Subject:	Inflation targeting \| inflation \| monetary policy \| central bank \| inflation-targeting \| inflation target \| foreign exchange \| monetary fund \| financial stability \| inflation forecasts \| government securities \| aggregate demand \| monetary instruments \| money market \| inflation objective \| monetary aggregate \| monetary policy framework \| transmission of monetary policy \| monetary transmission \| monetary framework \| foreign currency \| national bank \| monetary conditions \| price stability \| money stock \| high inflation \| monetary frameworks \| open market operations \| monetary policy rules \| monetary policy decisions \| monetary aggregates \| rates of inflation \| monetary policy operations \| liquidity management \| inflation rates \| monetary policies \| forecasting inflation \| monetary targeting \| monetary control \| monetary stance \| monetary financing \| low inflation \| monetary management \| monetary policy decision \| macroeconomic stability \| monetary policy objectives \| inflation rate \| money markets \| monetary regime \| inflation -targeting \| monetary policy operating procedures \| increase in interest rates \| market for government securities \| government security \| inflationary expectations \| lower inflation \| long-term interest rates \| monetary decisions \| monetary transmission mechanism \| monetary impact \| discount rate \| government securities markets \| real exchange rates \| monetary policy regime \| monetary aggregate anchor \| monetary target \| demand for money \| monetary policy instruments \| monetary objectives \| retail price index \| monetary system \| higher rates of inflation \| treasury bonds \| rate of inflation \| monetary transmission mechanisms \| inflation performance \| inflation targeting framework \| distribution of inflation \| terms of trade \| holdings of government securities \| reserve requirements

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Working Papers Number 02/102 3 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005826527