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Inflation Targeting Pillars - Transparency and Accountability
Author:
Mr. Douglas Laxton
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and
Charles Freedman null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2009: Issue 262
Language:
English
Publication Date:
01 Dec 2009
DOI:
https://doi.org/10.5089/9781451874075.001
ISBN:
9781451874075
ISSN:
1018-5941
Pages:
19
Keywords:
WP; monetary policy; market; policy; inflation expectation
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This is the fourth chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation- Targeting Regimes: Saying What You Do and Doing What You Say." It examines a number of issues related to transparency and accountability in an inflation-targeting regime. It first looks at the factors behind the move to increased transparency in recent years and the important role of a communications strategy in transparency. It then turns to the role of the forecast in communications, how risks surrounding the forecast are communicated, and whether there should be limits on what is made public. It concludes with a short discussion of accountability.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund