Download This PaperCzech Magic: Implementing Inflation-Forecast Targeting at the CNB
57 Pages Posted: 23 Mar 2017
Date Written: January 2017
Abstract
This paper describes the CNB's experience implementing an inflation-forecast targeting (IFT) regime, and the building of a system for providing the economic information that policymakers need to implement IFT. The CNB's experience has been very successful in establishing confidence in monetary policy in the Czech Republic and should provide useful guidance for other central banks that are considering adopting an IFT regime.
Keywords: Inflation targeting, Czech Republic, Central banks, Monetary policy, Forecasting models, Inflation Targeting, Monetary Policy, Optimal Control
JEL Classification: E30, E31, E58
Suggested Citation: Suggested Citation
Clinton, Kevin and Hlédik, Tibor and Holub, Tomás and Laxton, Douglas and Wang, Hou, Czech Magic: Implementing Inflation-Forecast Targeting at the CNB (January 2017). IMF Working Paper No. 17/21, Available at SSRN: https://ssrn.com/abstract=2938322
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