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Book Cover
E-book
Author Alichi, Ali

Title Frontiers of Monetary Policymaking : Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic / Ali Alichi
Published Washington, D.C. : International Monetary Fund, 2015

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Description 1 online resource (44 pages)
Series IMF Working Papers; Working Paper, 1018-5941 ; No. 15/74
IMF working paper ; WP/15/74.
Summary The paper first describes how the Czech National Bank (CNB) moved gradually from a fixed exchange rate regime to the frontiers of Inflation-Forecast Targeting. It then focuses on the CNB's recent experience in adding the exchange rate as a complementary monetary policy tool to stimulate the economy and combat the risks of deflation when the policy interest rate is at the zero lower bound. It assesses the theoretical basis of such a policy, the communications approach used by the CNB when announcing the new framework, and the effects thus far on inflation and output
Bibliography Includes bibliographical references (pages 23-25)
Notes Print version record
Subject Monetary policy -- Czech Republic
Inflation targeting -- Czech Republic
Foreign exchange rates -- Czech Republic
Deflation (Finance) -- Czech Republic
Deflation (Finance)
Foreign exchange rates
Inflation targeting
Monetary policy
Central Bank Communications.
Exchange Rate Tool.
Exchange Rate.
Exchange.
Forward Guidance.
Inflation.
Czech Republic
Czech Republic.
Form Electronic book
Author Alichi, Ali.
Benes, Jaromir
Felman, Joshua
Feng, Irene
Freedman, Charles
Laxton, Douglas
Tanner, Evan
Vavra, David
Wang, Hou
ISBN 1475532377
9781475532371