What Measure of Inflation Should a Developing Country Central Bank Target? / Rahul Anand, Eswar Prasad, Boyang Zhang.
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained and...
Saved in:
| Online Access: |
Full Text (via IMF e-Library) |
|---|---|
| Main Author: | |
| Other Authors: | , |
| Format: | eBook |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2015.
|
| Series: | IMF working paper ;
WP/2015/205. |