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Inflation Targeting Pillars - Transparency and Accountability

Author

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  • Douglas Laxton
  • Charles Freedman

Abstract

This is the fourth chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation- Targeting Regimes: Saying What You Do and Doing What You Say." It examines a number of issues related to transparency and accountability in an inflation-targeting regime. It first looks at the factors behind the move to increased transparency in recent years and the important role of a communications strategy in transparency. It then turns to the role of the forecast in communications, how risks surrounding the forecast are communicated, and whether there should be limits on what is made public. It concludes with a short discussion of accountability.

Suggested Citation

  • Douglas Laxton & Charles Freedman, 2009. "Inflation Targeting Pillars - Transparency and Accountability," IMF Working Papers 09/262, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:09/262
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    Cited by:

    1. Kevin Clinton & Charles Freedman & Michel Juillard & Ondrej Kamenik & Douglas Laxton & Hou Wang, 2015. "Inflation-Forecast Targeting; Applying the Principle of Transparency," IMF Working Papers 15/132, International Monetary Fund.
    2. Alexandra Born & Sarwat Jahan & Edward R Gemayel, 2011. "What Can Low-Income Countries Expect From Adopting Inflation Targeting?," IMF Working Papers 11/276, International Monetary Fund.
    3. International Monetary Fund, 2011. "Republic of Poland; Selected Issues," IMF Staff Country Reports 11/167, International Monetary Fund.

    More about this item

    Keywords

    Central bank policy; Central banks; Monetary policy; Inflation targeting; Inflation; Transparency; central bank; monetary fund;

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