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Chapter 13. Low-Income Countries

Chapter 13. Low-Income Countries »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

The farmers care a lot more about the rain than they do about interest rates. But the central bank has a lot more influence over the interest rate...

Chapter 3. Managing Expectations

Chapter 3. Managing Expectations »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

For not only do expectations about policy matter, but, at least under current conditions, very little else matters. —M. Woodford (2005)...

Chapter 5. Monetary Operations

Chapter 5. Monetary Operations »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Monetary operations that stabilize and align short-term market rates with the policy rate reduce liquidity risks, assisting banks with their liquidity management and...

Chapter 6. Monetary Policy and Financial Stability

Chapter 6. Monetary Policy and Financial Stability »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Monetary policy faces significant limitations as a tool to promote financial stability . . . [However,] it may be appropriate to adjust monetary p...

Chapter 4. Nuts and Bolts of a Forecasting and Policy Analysis System

Chapter 4. Nuts and Bolts of a Forecasting and Policy Analysis System »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Inflation-forecast targeting involves using a wide range of information in order to obtain the best forecasts for inflation and the economy. The s...

Chapter 8. Transparency and Communications

Chapter 8. Transparency and Communications »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

There are two key factors behind the move to increased transparency on the part of central banks. The first is the relationship between transparen...

Chapter 12. United States: Federal Reserve’s Dual Mandate

Chapter 12. United States: Federal Reserve’s Dual Mandate »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

The FOMC is firmly committed to fulfilling its statutory mandate from the Congress of promoting maximum employment, stable prices, and moderate lo...

Part I: The Frontiers of Monetary Policymaking

Part I: The Frontiers of Monetary Policymaking »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

...

Part II: Principles and Practices of Inflation-Forecast Targeting

Part II: Principles and Practices of Inflation-Forecast Targeting »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

...

Part III: Inflation-Forecast Targeting in Four Countries

Part III: Inflation-Forecast Targeting in Four Countries »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

...