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Disagreement about Future Inflation [electronic resource] : Understanding the Benefits of Inflation Targeting and Transparency / Steve Brito.

Author/Creator:
Brito, Steve.
Publication:
Washington, D.C. : International Monetary Fund, 2018.
Format/Description:
Government document
Book
1 online resource (18 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper; No. 18/24
IMF Working Papers
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Summary:
We estimate the determinants of disagreement about future inflation in a large and diverse sample of countries, focusing on the role of monetary policy frameworks. We offer novel insights that allow us to reconcile mixed findings in the literature on the benefits of inflation targeting regimes and central bank transparency. The reduction in disagreement that follows the adoption of inflation targeting is entirely due to increased central bank transparency. Since the benefits of increased transparency are non-linear, the gains from inflation targeting adoption have accrued mainly to countries that started from a low level of transparency. These have tended to be developing countries.
Notes:
Part of the IMF eLibrary collection.
Description based on print version record.
Contributor:
Brito, Steve.
Carriere-Swallow, Yan.
Gruss, Bertrand.
Other format:
Print Version: Brito, Steve Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency
ISBN:
1484339711
9781484339718
Publisher Number:
10.5089/9781484339718.001 doi
Access Restriction:
Restricted for use by site license.