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An Open Economy Quarterly Projection Model for Sri Lanka

An Open Economy Quarterly Projection Model for Sri Lanka »

Source: An Open Economy Quarterly Projection Model for Sri Lanka

Volume/Issue: 2018/149

Series: IMF Working Papers

Author(s): Chandranath Amarasekara , Rahul Anand , Kithsiri Ehelepola , Hemantha Ekanayake , Vishuddhi Jayawickrema , Sujeetha Jegajeevan , Csaba Kober , Tharindi Nugawela , Sergey Plotnikov , Adam Remo , Poongothai Venuganan , and Rasika Yatigammana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 June 2018

ISBN: 9781484361511

Keywords: Asia and Pacific, Monetary policy, Sri Lanka, Quarterly Projection Model, Forecasting and Policy Analysis System, Flexible Inflation Targeting, General, Forecasting and Simulation, Monetary Policy (Targets, Instruments

This study documents a semi-structural model developed for Sri Lanka. This model, extended with a fiscal sector block, is expected to serve as a core forecasting model in the process of the Central Bank of Sri Lank...

How to Improve Inflation Forecasting in Canada

How to Improve Inflation Forecasting in Canada »

Source: How to Improve Inflation Forecasting in Canada

Volume/Issue: 2019/190

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2019

ISBN: 9781513509396

Keywords: Real interest rates, Financial crises, Inflation rates, Inflation expectations, Monetary policy, Inflation, inflation targeting, real-time data, forecast errors, WP

Against the backdrop of an ongoing review of the inflation-targeting framework, this paper examines the real-time inflation forecasts of the Bank of Canada with the aim of identifying potential areas for improvemen...

Czech Magic
			: Implementing Inflation-Forecast Targeting at the CNB

Czech Magic : Implementing Inflation-Forecast Targeting at the CNB »

Volume/Issue: 2017/21

Series: IMF Working Papers

Author(s): Kevin Clinton , Tibor Hlédik , Tomás Holub , Douglas Laxton , and Hou Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2017

DOI: http://dx.doi.org/10.5089/9781475572971.001

ISBN: 9781475572971

Keywords: Inflation targeting, Czech Republic, Central banks, Monetary policy, Forecasting models, Inflation Targeting, Monetary Policy, Optimal Control

This paper describes the CNB's experience implementing an inflation-forecast targeting (IFT) regime, and the building of a system for providing the economic information that policymakers need to implement IFT. The...

Inflation-Forecast Targeting for India

Inflation-Forecast Targeting for India »

Source: Inflation-Forecast Targeting for India : An Outline of the Analytical Framework

Volume/Issue: 2017/32

Series: IMF Working Papers

Author(s): Jaromir Benes , Kevin Clinton , Asish George , Joice John , Ondra Kamenik , Douglas Laxton , Pratik Mitra , G.V. Nadhanael , Hou Wang , and Fan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2017

ISBN: 9781475578690

Keywords: Asia and Pacific, Disinflation, India, Inflation targeting, Forecasting models, Monetary policy, Price stabilization, Central banks and their policies, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper d...

Flattening of the Phillips Curve

Flattening of the Phillips Curve »

Source: Flattening of the Phillips Curve : Implications for Monetary Policy

Volume/Issue: 2007/76

Series: IMF Working Papers

Author(s): Dora Iakova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866407

Keywords: Phillips curve, efficient monetary policy rules, real interest rate, monetary policy rules, inflation targeting, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation, Money and Interest Rates: Forecasting and Simulation,

Over the past decade, inflation has become less responsive to domestic demand pressures in many industrial countries. This development has been attributed, in part, to globalization forces. A small macroeconomic mo...

Fire Sales and the Financial Accelerator

Fire Sales and the Financial Accelerator »

Source: Fire Sales and the Financial Accelerator

Volume/Issue: 2010/141

Series: IMF Working Papers

Author(s): Woon Choi , and David Cook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

ISBN: 9781455201242

Keywords: fire sales, financial accelerator, endogenous recovery rate, financial shock, liquidity spiral, collateral, inflation, monetary policy, inflation targeting, real interest rates

During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates...

The Role of Domestic and External Shocks in Poland
			: Results from an Agnostic Estimation Procedure

The Role of Domestic and External Shocks in Poland : Results from an Agnostic Estimation Procedure »

Volume/Issue: 2013/220

Series: IMF Working Papers

Author(s): Michal Andrle , Roberto Garcia-Saltos , and Giang Ho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 October 2013

DOI: http://dx.doi.org/10.5089/9781484337172.001

ISBN: 9781484337172

Keywords: euro zone, trend-cycle VAR, monetary policy, inflation target, price level, inflation targeting regime, General, Forecasting and Simulation,

This paper discusses interlinkages between Poland and the euro zone using a simple and agnostic econometric approach. Specifically, we estimate a trend-cycle VAR model using data for real and nominal variables, imp...

Quarterly Projection Model for India

Quarterly Projection Model for India »

Source: Quarterly Projection Model for India : Key Elements and Properties

Volume/Issue: 2017/33

Series: IMF Working Papers

Author(s): Jaromir Benes , Kevin Clinton , Asish George , Pranav Gupta , Joice John , Ondra Kamenik , Douglas Laxton , Pratik Mitra , G.V. Nadhanael , Rafael Portillo , Hou Wang , and Fan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2017

ISBN: 9781475578706

Keywords: Central banks and their policies, Monetary policy, Monetary transmission mechanism, Interest rate policy, Forecasting models, Inflation targeting, India, Asia and Pacific, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India

This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating for...

Inflation Targeting in the Context of IMF-Supported Adjustment Programs

Inflation Targeting in the Context of IMF-Supported Adjustment Programs »

Volume/Issue: 2001/31

Series: IMF Working Papers

Author(s): Gerd Schwartz , Pau Rabanal , Mario Bléjer , and Alfredo Leone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2001

DOI: http://dx.doi.org/10.5089/9781451845020.001

ISBN: 9781451845020

Keywords: Monetary Policy Rules, inflation, inflation target, central bank, General Aggregative Models: Forecasting and Simulation,

This paper argues that the IMF's traditional monetary conditionality-a ceiling on net domestic assets of the central bank and a floor on its net international reserves-should be adapted in IMF-supported adjustment...

Philippines
			: Preparations for Inflation Targeting

Philippines : Preparations for Inflation Targeting »

Volume/Issue: 2001/99

Series: IMF Working Papers

Author(s): Piyabha Kongsamut

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

DOI: http://dx.doi.org/10.5089/9781451852271.001

ISBN: 9781451852271

Keywords: inflation targeting, inflation modeling, inflation, inflation target, central bank, Multiple or Simultaneous Equation Models: Time-Series Models, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation, Targeting,

The Philippines is planning to shift toward adoption of an inflation targeting framework in 2001. This paper reviews key policy issues in this context, describes various operational and technical preparations, and...