Inflation Forecast-Based Rule for Inflation Targeting: Case of Some Selected MENA Countries

Houda Boubaker ()
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Houda Boubaker: Institut Supérieur de Gestion de Tunis, Tunisia

No 628, Working Papers from Economic Research Forum

Abstract: Inflation targeting is an attractive monetary policy strategy because it could reduce inflation and improve central banks’ credibility, which is what motivated its adoption previously by industrial countries and recently by emerging ones. This paper considers to what extent some selected MENA countries can adopt inflation targeting. To this end we estimate a monetary policy derived from the flexible inflation forecast targeting based-rule. The aim of this paper is to estimate a reaction function that fits the inflation-targeting framework in accordance with the specificity of the transmission mechanism into these countries.

Pages: 31
Date: 2011-01-09, Revised 2011-01-09
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