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Writing Clearly

Writing Clearly »

Source: Writing Clearly : ECB's Monetary Policy Communication

Volume/Issue: 2008/252

Series: IMF Working Papers

Author(s): Martin Cihak , Katerina Smídková , and Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

ISBN: 9781451871104

Keywords: Communication, inflation, central bank, inflation forecasts, inflation target,

The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB's written com...

Czech Magic

Czech Magic »

Source: 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

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...

The Role of Domestic and External Shocks in Poland: Results from an Agnostic Estimation Procedure1

The Role of Domestic and External Shocks in Poland: Results from an Agnostic Estimation Procedure1 »

Source: 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

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...

Inflation Targeting and the Unemployment-Inflation Trade-off

Inflation Targeting and the Unemployment-Inflation Trade-off »

Source: Inflation Targeting and the Unemployment-Inflation Trade-off

Volume/Issue: 2001/166

Series: IMF Working Papers

Author(s): Chorng-Huey Wong , Eric Clifton , and Gene Leon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451858105

Keywords: inflation targeting, credibility, Phillips curve, smooth transition regression models, inflation, central bank, monetary fund, General Aggregative Models: Forecasting and Simulation, Inflation Targeting Credibility,

This paper examines the impact of the introduction of inflation targeting on the unemployment-inflation trade-off in OECD countries. Theoretical models suggest that the credibility-enhancing effects of the adoption...

Shock from Graying

Shock from Graying »

Source: Shock from Graying : Is the Demographic Shift Weakening Monetary Policy Effectiveness

Volume/Issue: 2013/191

Series: IMF Working Papers

Author(s): Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 September 2013

ISBN: 9781475598070

Keywords: Demographic shift, life-cycle model, monetary policy, inflation, monetary transmission, central bank, inflation targeting, Demographic Trends and Forecasts,

Abstract Empirical evidence is mounting that, in advanced economies, changes in monetary policy have a more benign impact on the economy—given better anchored inflation expectations and inflation being less...

Measuring Disinflation Credibility in Emerging Markets

Measuring Disinflation Credibility in Emerging Markets »

Source: Measuring Disinflation Credibility in Emerging Markets : A Bayesian Approach with An Application to Turkey

Volume/Issue: 2004/208

Series: IMF Working Papers

Author(s): Alessandro Rebucci , and Marco Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451874730

Keywords: Bayesian Learning, Credibility, Mixing Estimation, inflation, monetary policy, inflation process, inflation rate, inflation targeting, Bayesian Analysis, International Finance Forecasting and Simulation,

This paper presents an empirical measure of disinflation credibility and discusses its evolution in Turkey since the 2001 crisis. The results indicate that credibility has improved markedly over this period, boding...

Writing Clearly
			: ECB's Monetary Policy Communication

Writing Clearly : ECB's Monetary Policy Communication »

Volume/Issue: 2008/252

Series: IMF Working Papers

Author(s): Martin Cihak , Katerina Smídková , and Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

DOI: http://dx.doi.org/10.5089/9781451871104.001

ISBN: 9781451871104

Keywords: Communication, inflation, central bank, inflation forecasts, inflation target,

The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB's written com...

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...

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...

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...