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Setting the Operational Framework for Producing Inflation Forecasts

Setting the Operational Framework for Producing Inflation Forecasts »

Volume/Issue: 2006/122

Series: IMF Working Papers

Author(s): Turgut Kisinbay , Eric Parrado , Rodolfo Maino , and Jorge Canales Kriljenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

DOI: http://dx.doi.org/10.5089/9781451863826.001

ISBN: 9781451863826

Keywords: Inflation forecasting, communication, central bank, inflation forecasts, Money and Interest Rates: Forecasting and Simulation,

How should a central bank organize itself to produce the best possible inflation forecast? This paper discusses elements for building a comprehensive platform for an inflation forecasting framework. It describes th...

Setting Up a Sovereign Wealth Fund
			: Some Policy and Operational Considerations

Setting Up a Sovereign Wealth Fund : Some Policy and Operational Considerations »

Volume/Issue: 2009/179

Series: IMF Working Papers

Author(s): Christian Mulder , Amadou Sy , Yinqiu Lu , and Udaibir Das

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

DOI: http://dx.doi.org/10.5089/9781451873269.001

ISBN: 9781451873269

Keywords: Sovereign wealth fund, SWF&;amp;#x2019;s policy objective, central bank, monetary fund, balance of payments, currency composition, external debt, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

This paper offers a policy and operational "roadmap" to policymakers considering setting up an SWF. It should also be of interest to policymakers in countries where SWFs are already in place, to review their existi...

Sovereign Risk and Asset and Liability Management
			: Conceptual Issues

Sovereign Risk and Asset and Liability Management : Conceptual Issues »

Volume/Issue: 2012/241

Series: IMF Working Papers

Author(s): Udaibir Das , Yinqiu Lu , Michael Papaioannou , and Iva Petrova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2012

DOI: http://dx.doi.org/10.5089/9781475511833.001

ISBN: 9781475511833

Keywords: Sovereign asset and liability management, sovereign balance sheet, reserve management, central bank, government debt, currency composition, external debt, International Lending and Debt Problems, Portfolio Choice, Asset Pricing

Country practices towards managing financial risks on a sovereign balance sheet continue to evolve. Each crisis period, and its legacy on sovereign balance sheets, reaffirms the need for strengthening financial ris...

Striving to Be 'Clearly Open' and 'Crystal Clear'
			: Monetary Policy Communication of the CNB

Striving to Be 'Clearly Open' and 'Crystal Clear' : Monetary Policy Communication of the CNB »

Volume/Issue: 2008/84

Series: IMF Working Papers

Author(s): Ales Bulir , and Katerina Smídková

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

DOI: http://dx.doi.org/10.5089/9781451869453.001

ISBN: 9781451869453

Keywords: communication, Czech National Bank, central bank, national bank, Money and Interest Rates: Forecasting and Simulation,

The Czech National Bank has a respectable track record in terms of its policy actions and the corresponding inflation outturns. Using a simple forward-looking policy rule, we find that its main communication tools-...

Survey of Reserve Managers
			: Lessons from the Crisis

Survey of Reserve Managers : Lessons from the Crisis »

Volume/Issue: 2013/99

Series: IMF Working Papers

Author(s): Aideen Morahan , and Christian Mulder

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2013

DOI: http://dx.doi.org/10.5089/9781484308486.001

ISBN: 9781484308486

Keywords: Foreign Currency Reserves, reserve managers, central banks, currency composition, reserve management, central bank,

This paper reports in detail on a survey that was circulated to reserve managing central banks of IMF member countries in April 2012. The survey aims to gain further insight into how reserve managers have reacted t...

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition
			: Issues and Lessons From Experience

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition : Issues and Lessons From Experience »

Volume/Issue: 1994/148

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1994

DOI: http://dx.doi.org/10.5089/9781451856774.001

ISBN: 9781451856774

Keywords: central bank, debt management, government securities, monetary management, central banks

In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls...

The Scope for Inflation Targeting in Developing Countries

The Scope for Inflation Targeting in Developing Countries »

Volume/Issue: 1997/130

Series: IMF Working Papers

Author(s): Miguel Savastano , Paul Masson , and Sunil Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1997

DOI: http://dx.doi.org/10.5089/9781451855159.001

ISBN: 9781451855159

Keywords: inflation, monetary policy, inflation target, central bank

Inflation targeting (IT) serves as monetary policy framework in several advanced economies, where it has enhanced policy transparency and accountability. The paper considers its wider applicability to developing co...

Tracking Global Demand for Advanced Economy Sovereign Debt

Tracking Global Demand for Advanced Economy Sovereign Debt »

Volume/Issue: 2012/284

Series: IMF Working Papers

Author(s): Serkan Arslanalp , and Takahiro Tsuda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 December 2012

DOI: http://dx.doi.org/10.5089/9781475596403.001

ISBN: 9781475596403

Keywords: Portfolio Choice, Investment Decisions, government debt, central banks, central bank, external debt, Portfolio Choice and Investment Decisions, General,

Recent events have shown that sovereigns, just like banks, can be subject to runs, highlighting the importance of the investor base for their liabilities. This paper proposes a methodology for compiling internation...

What Is in Your Output Gap? Unified Framework & Decomposition into Observables

What Is in Your Output Gap? Unified Framework & Decomposition into Observables »

Volume/Issue: 2013/105

Series: IMF Working Papers

Author(s): Michal Andrle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2013

DOI: http://dx.doi.org/10.5089/9781484399552.001

ISBN: 9781484399552

Keywords: output gap, linear filters, observable decomposition, DSGE, inflation, unemployment, employment, monetary fund, central bank, General,

This paper discusses several popular methods to estimate the ‘output gap’. It provides a unified, natural concept for the analysis, and demonstrates how to decompose the output gap into contributions...

Why Inflation Targeting?

Why Inflation Targeting? »

Volume/Issue: 2009/86

Series: IMF Working Papers

Author(s): Charles Freedman , and Douglas Laxton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

DOI: http://dx.doi.org/10.5089/9781451872330.001

ISBN: 9781451872330

Keywords: rate of inflation, central bank

This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, i...