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Establishing Initial Conditions in Support of Inflation Targeting

Author

Listed:
  • Mark Zelmer
  • Andrea Schaechter
  • Mark R. Stone
  • Alina Carare

Abstract

This paper provides some practical advice on establishing initial conditions in support of an inflation-targeting monetary framework. These conditions are divided into four areas: a mandate in support of an inflation objective and accountability for achieving this objective; macroeconomic stability; a sufficiently well-developed and stable financial system; and effective policy implementation tools. The measures taken by countries to meet these conditions are also reviewed.

Suggested Citation

  • Mark Zelmer & Andrea Schaechter & Mark R. Stone & Alina Carare, 2002. "Establishing Initial Conditions in Support of Inflation Targeting," IMF Working Papers 02/102, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:02/102
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=15876
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    References listed on IDEAS

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    1. World Bank & International Monetory Fund, 2001. "Developing Government Bond Markets : A Handbook," World Bank Publications, The World Bank, number 13865.
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