What measure of inflation should a developing country central bank target? /
Saved in:
| Author / Creator: | Anand, Rahul, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, c2015. |
| Description: | 1 online resource (37 pages) : color illustrations. |
| Language: | English |
| Series: | IMF working paper ; WP/15/205. IMF working paper ; WP/15/205. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12504745 |
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| 090 | |a HG3881.5. I58 |b W67 No. 15/205eb | ||
| 100 | 1 | |a Anand, Rahul, |e author. |0 http://id.loc.gov/authorities/names/no2010033095 | |
| 245 | 1 | 0 | |a What measure of inflation should a developing country central bank target? / |c Rahul Anand, Eswar Prasad, and Boyang Zhang. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c c2015. | |
| 300 | |a 1 online resource (37 pages) : |b color illustrations. | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/15/205. | |
| 500 | |a "September 2015." | ||
| 500 | |a "Institute For Capacity Development." | ||
| 504 | |a Includes bibliographical references (pages 27-29). | ||
| 520 | |a In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained and the share of food expenditures in total consumption expenditures is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting improves welfare outcomes. We also compute the optimal price index, which includes a positive weight on food prices but, unlike headline inflation, assigns zero weight to import prices. | ||
| 588 | |a Description based on online resource; title from pdf title page (IMF.org Web site, viewed October 7, 2015). | ||
| 650 | 0 | |a Inflation targeting |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Monetary policy |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Consumer price indexes |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Banks and banking, Central |z Developing countries |x Econometric models. | |
| 650 | 7 | |a Banks and banking, Central |x Econometric models. |2 fast |0 (OCoLC)fst00827041 | |
| 650 | 7 | |a Consumer price indexes |x Econometric models. |2 fast |0 (OCoLC)fst00876350 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 651 | 7 | |a Developing countries. |2 fast |0 (OCoLC)fst01242969 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Prasad, Eswar S., |d 1965- |e author. | |
| 700 | 1 | |a Zhang, Boyang, |e author. |0 http://id.loc.gov/authorities/names/no2015134242 | |
| 710 | 2 | |a International Monetary Fund. |b Institute for Capacity Development. |0 http://id.loc.gov/authorities/names/no2012075144 | |
| 830 | 0 | |a IMF working paper ; |v WP/15/205. |0 http://id.loc.gov/authorities/names/no89010263 | |
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