Franklin

Preliminary Considerations of an Inflation Targeting Framework for the Philippines [electronic resource] Lim, G. C..

Author/Creator:
Lim, G. C.
Publication:
Washington, D.C. : International Monetary Fund, 1998.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 98/39.
IMF Working Papers; Working Paper No. 98/39
Format/Description:
Government document
Book
1 online resource (30 p.)
Local subjects:
Annual inflation.
Annual inflation rate.
Average inflation.
Average inflation rate.
Central bank.
Effects of inflation.
Forecasting inflation.
Foreign currency.
Foreign exchange.
Higher rates of inflation.
Inflation.
Inflation equation.
Inflation forecasts.
Inflation objective.
Inflation performance.
Inflation process.
Inflation rate.
Inflation rates.
Inflation target.
Inflation targeting.
Inflation targeting framework.
Intermediate monetary target.
Low inflation.
Measure of inflation.
Monetary aggregate.
Monetary arrangement.
Monetary authority.
Monetary control.
Monetary framework.
Monetary frameworks.
Monetary fund.
Monetary growth.
Monetary growth rates.
Monetary policy.
Monetary policy decision.
Monetary policy decisions.
Monetary policy framework.
Monetary policy strategy.
Monetary program.
Monetary target.
Monetary targeting.
Monetary targets.
Money demand.
Money growth.
Money supply.
Optimal monetary policy.
Price inflation.
Price level.
Price stability.
Rate of inflation.
Rates of inflation.
Real output.
Reduction in inflation.
Terms of trade.
Terms of trade shock.
Tight monetary policy.
Variable inflation.
Philippines.
Summary:
Monetary policy in the Philippines has had multiple objectives. Moreover, shifts in money demand and the money multiplier have made base money a less reliable anchor for monetary policy. Hence, on present policies, a steady reduction in inflation is not assured, and changes to the monetary policy framework should be considered. This paper reviews the benefits as well as the constraints of an inflation targeting framework and the necessary preconditions--both in terms of the institutional infrastructure and the appropriate inflation target--for its successful implementation, including the ability to forecast inflation reasonably well over policy-relevant time horizons.
Notes:
Description based on print version record.
Contributor:
Debelle, Guy.
Lim, G. C.
Other format:
Print Version:
ISBN:
1451845804:
9781451845808
ISSN:
1018-5941
Publisher Number:
10.5089/9781451845808.001
Access Restriction:
Restricted for use by site license.
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