| Description |
1 online resource (33 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/07/193 |
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IMF working paper ; WP/07/193.
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| Summary |
This paper evaluates whether Georgia is ready to adopt inflation targeting (IT), a monetary policy framework that several emerging markets have adopted recently. After reviewing selected prerequisites for successfully implementing IT, the paper focuses on whether one specific precondition is in place-an empirically stable monetary transmission mechanism. Building on a baseline VAR model, it presents several extensions to explore the various channels using causality tests, impulse responses, and variance decompositions. The paper finds that once the central bank overcomes some institutional and operational weaknesses and establishes a more reliable transmission mechanism, it could adopt IT over the medium term |
| Bibliography |
Includes bibliographical references (pages 32-33) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Inflation (Finance) -- Georgia (Republic)
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|
Monetary policy -- Georgia (Republic)
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Economic policy
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Inflation (Finance)
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Monetary policy
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| SUBJECT |
Georgia (Republic) -- Economic policy
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| Subject |
Georgia (Republic)
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| Form |
Electronic book
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| Author |
Billmeier, Andreas, author.
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International Monetary Fund. Middle East and Central Asia Department.
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| ISBN |
1282538896 |
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9781282538894 |
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1451912102 |
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9781451912104 |
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