Requirements for Using Interest Rates As An Operating Target for Monetary Policy:The Case of Tunisia

This paper discusses the use of interest rates as the operating target for monetary policy in Tunisia and the roadmap for establishing the other building blocks of an inflation targeting framework. It argues that strengthening the effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time.

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Year of publication:	2009-07-01
Authors:	Durré, Alain ; Laurens, Bernard ; Chailloux, Alexandre
Institutions:	International Monetary Fund (IMF)
Subject:	Monetary policy \| Monetary operations \| Economic models \| Economic reforms \| Financial sector \| Inflation targeting \| Interest rates \| Liquidity management \| Money markets \| inflation \| money market \| monetary base \| central bank \| monetary aggregate \| foreign exchange \| price stability \| monetary fund \| money base \| foreign currency \| money supply \| inflation target \| monetary policy framework \| government securities \| monetary policy instrument \| monetary policy decisions \| monetary shock \| annual inflation \| monetary policy decision \| inflation rate \| aggregate demand \| monetary program \| price level \| monetary framework \| monetary policy implementation \| annual inflation rate \| rational expectations \| monetary instruments \| monetary policy instruments \| monetary management \| monetary targeting \| transmission of monetary policy \| monetary financing \| money growth \| macroeconomic stability \| demand for money \| measure of inflation \| control of inflation \| monetary frameworks \| inflation targeting framework \| inflation forecasts \| monetary economics \| monetary indicators \| monetary policy transmission mechanisms \| money demand \| monetary transmission \| monetary policy rules \| monetary authorities \| inflation objective \| monetary shocks \| relative prices \| stable price \| inflationary shock \| monetary policy strategy \| monetary transmission process \| government securities market \| domestic monetary policy \| inflation-targeting \| monetary targets \| low inflation \| monetary aggregates \| liquidity ratio \| monetary policy reaction function \| money market interest rate \| monetary sector \| monetary liability \| open market operations \| stable prices \| reserve requirement \| independent monetary policy \| holdings of government securities \| aggregate demand effects \| monetary target \| treasury securities \| real interest rate \| monetary instrument \| real money \| treasury bonds \| relative price \| monetary policy regime \| monetary stability

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series IMF Working Papers Number 09/149 4 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10008528707