Inflation Index Modifications and Expediency of Their Application for Georgia

GFSIS, Expert Opinion, No. 77, 2017

17 Pages Posted: 4 May 2017

See all articles by Vakhtang Charaia

Vakhtang Charaia

Ivane Javakhishvili Tbilisi State University (TSU)

Vladimer Papava

Ivane Javakhishvili Tbilisi State University

Date Written: April 27, 2017

Abstract

There is no reason to doubt the significance of the inflation index for economic development or the fact that the inflation indicator is used as a central bank’s target. The critics of inflation targeting believe that the association of a central bank’s monetary policy with the planned inflation target alone is incorrect. For developing poorer countries, the dynamics of average prices and not only for food but also for medication and utilities is of importance. The paper discuss some modifications of the inflation index, with their applications.

Keywords: Inflation, Inflation Targeting, Low-Income Population, Imflation, Agflation, Munflation

JEL Classification: E31, E52, E58

Suggested Citation

Charaia, Vakhtang and Papava, Vladimer, Inflation Index Modifications and Expediency of Their Application for Georgia (April 27, 2017). GFSIS, Expert Opinion, No. 77, 2017. Available at SSRN: https://ssrn.com/abstract=2960116 or http://dx.doi.org/10.2139/ssrn.2960116

Vakhtang Charaia

Ivane Javakhishvili Tbilisi State University (TSU) ( email )

1, Ilia Tchavtchavadze avenue
Building I
Tbilisi, 0179
Georgia
+995-593-13-18-11 (Phone)
+995-32-222-5107 (Fax)

Vladimer Papava (Contact Author)

Ivane Javakhishvili Tbilisi State University ( email )

1, Ilia Tchavtchavadze avenue
Tbilisi, Tbilisi 0179
Georgia
+995 32 222-0241 (Phone)
+995 32 222-5107 (Fax)

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