İnflyasiya hədəflənməsinin əməliyyat çərçivəsi: ölkə təcrübələri AMB üçün nə vəd edir?

Operational framework of Inflation Targeting: what promises do country experiences make to the CBAR?

Shaig Adigozalov and Salman Huseynov

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Inflation Targeting; operational framework; monetary transmission (search for similar items in EconPapers)
JEL-codes: E42 E43 E52 E58 (search for similar items in EconPapers)
Date: 2015-05-22
New Economics Papers: this item is included in nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:76349

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