IDEAS home Printed from https://ideas.repec.org/p/aze/wpaper/1507.html

Operational framework of inflation targeting: what promises do country experiences make to the CBAR?

Author

Listed:
  • Salman Huseynov

    (Central Bank of Azerbaijan Republic)

  • Shaig Adigozalov

    (Central Bank of Azerbaijan Republic)

Abstract

The CBAR plans to make a transition from the current peg regime where exchange rate acts as a “nominal anchor†to an inflation targeting (IT) regime. All leading central banks which adhere to an IT regime adopt a respective operational framework consistent with the announced monetary regime. Unfortunately, in compared to the transmission mechanism of the monetary policy which is under the spotlight, operational frameworks are not that much illuminated. This study explores a relatively “least conspicuous facet†of monetary policy, mainly focusing on experiences of various leading central banks. In addition, this paper analyzes the current operational framework of the Bank, pointing out the constraints and proposes several recommendations on how to adopt a proper operational framework for the new regime.

Suggested Citation

  • Salman Huseynov & Shaig Adigozalov, 2015. "Operational framework of inflation targeting: what promises do country experiences make to the CBAR?," Working Papers 1507, Central Bank of Azerbaijan Republic.
    • Handle: RePEc:aze:wpaper:1507
    as

    Download full text from publisher

    File URL: https://uploads.cbar.az/assets/07_%C4%B0NFLYAS%C4%B0YA%20H%C6%8FD%C6%8FFL%C6%8FNM%C6%8FS%C4%B0N%C4%B0N%20%C6%8FM%C6%8FL%C4%B0YYAT%20%C3%87%C6%8FR%C3%87%C4%B0V%C6%8FS%C4%B0.pdf
    File Function: First version, 2015
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aze:wpaper:1507. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Central Bank of Azerbaijan Republic The email address of this maintainer does not seem to be valid anymore. Please ask Central Bank of Azerbaijan Republic to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/nbagvaz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.