Warianty tytułu
Zagadnienia strukturalne w skutecznej polityce planowania poziomu inflacji w krajach transformacji ustrojowej
Języki publikacji
Abstrakty
Inflation targeting involves the announcement of a medium term target for the inflation rate along with accountability for the central bank to achieve this target. Successful inflation targeting is based on six structural pillars:
1. Absence of other nominal anchors
2. Institutional commitment to price stability and the inflation target.
3. Central bank instrument independence.
4. Increased transparency through public communication.
5. Absence of fiscal dominance.
6. Safe and sound financial system.
These six pillars raise several structural issues that are particularly important to the transition countries. The first pillar that there must be no other nominal anchors besides the inflation target raises the issue of what role the exchange rate should have in an inflation targeting regime. This issue is discussed in the following section II. The second through the fourth pillars, dealing with an institutional commitment to the inflation target, instrument independence and public communication, raise the issue of how the government and the central bank should interact in the inflation targeting regime and it is discussed in section III. Pillars five and six suggest that government policies are needed to promote fiscal balance and a sound financial system. This issue is discussed in section IV, with concluding remarks in the final section. (fragment of text)
1. Absence of other nominal anchors
2. Institutional commitment to price stability and the inflation target.
3. Central bank instrument independence.
4. Increased transparency through public communication.
5. Absence of fiscal dominance.
6. Safe and sound financial system.
These six pillars raise several structural issues that are particularly important to the transition countries. The first pillar that there must be no other nominal anchors besides the inflation target raises the issue of what role the exchange rate should have in an inflation targeting regime. This issue is discussed in the following section II. The second through the fourth pillars, dealing with an institutional commitment to the inflation target, instrument independence and public communication, raise the issue of how the government and the central bank should interact in the inflation targeting regime and it is discussed in section III. Pillars five and six suggest that government policies are needed to promote fiscal balance and a sound financial system. This issue is discussed in section IV, with concluding remarks in the final section. (fragment of text)
Twórcy
autor
Bibliografia
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171264457
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.