Hidden Bibliographic Details
| Other authors / contributors: | Kongsamut, Piyabha.
International Monetary Fund.
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| ISBN: | 1451897987
9781451897982
1462363067
9781462363063
1452716943
9781452716947
1281988588
9781281988584
9786613794116
6613794112
9781451897982
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| Notes: | Available in PDF, ePUB, and Mobi formats on the Internet.
English.
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| Summary: | 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 presents an empirical analysis of the factors driving inflation. Among the key policy requirements, while central bank independence appears assured, the exchange rate has been allowed to fluctuate largely freely, and the authorities are embarking on a medium-term plan for fiscal consolidation. Empirical results suggest that the effective exchange rate (rather than a bilateral rate) and wages are important long-run influences on inflation.
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| Standard no.: | 10.5089/9781451897982.001
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