Inflation Targeting in the Context of IMF-Supported Adjustment Programs

Mario I. Blejer, Alfredo M. Leone, Pau Rabanal and Gerd Schwartz

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: This paper analyzes how an inflation targeting regimes relate with the conditioning established in the IMF assistance programs, and, in particular, with its inclusion within the performance criteria associated with that conditioning. The paper analyzes the Brazil's case, the first country in an IMF program to adopt an inflation target, and the lessons that can be derived from this experience. In its last section, we evaluate the idea of using Taylor rules to assess the inflationary performance. Simulations generated by the rule produces are not very similar to the effective policy rates, although differences diminish when expected inflation replaces current inflation within the rule.

Date: 2001-11
New Economics Papers: this item is included in nep-cba, nep-lam, nep-mon and nep-pke
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Citations: View citations in EconPapers (15)

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Related works:
Chapter: Inflation Targeting in the Context of IMF-Supported Adjustment Programs (2002)
Journal Article: Inflation Targeting in the Context of IMF-Supported Adjustment Programs (2002)
Working Paper: Inflation Targeting in the Context of IMF-Supported Adjustment Programs (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:116

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