TY - BOOK ID - 84541710 TI - Greater Monetary Policy Transparency for the G3 : Lessons From Full-Fledged Inflation Targeters PY - 2003 SN - 1462397085 1452721785 1283519070 9786613831521 145191976X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Inflation (Finance) KW - Finance KW - Natural rate of unemployment KW - Banks and Banking KW - Inflation KW - Macroeconomics KW - Money and Monetary Policy KW - Monetary Policy KW - Central Banks and Their Policies KW - Policy Objectives KW - Policy Designs and Consistency KW - Policy Coordination KW - Price Level KW - Deflation KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Monetary economics KW - Banking KW - Inflation targeting KW - Price stabilization KW - Monetary policy KW - Prices KW - Monetary policy transparency KW - Banks and banking KW - Government policy KW - Japan UR - https://www.unicat.be/uniCat?func=search&query=sysid:84541710 AB - The experience of full-fledged inflation targeting (FFIT) countries is used here to shed light on the costs and benefits of greater monetary policy transparency for the G3. For the United States and the euro area, a hypothetical adoption of FFIT would incur a cost of less discretion while gaining the benefit of locking in a highly credible framework. The adoption of FFIT by Japan would create the risk of a further hit to credibility if policy was not able to end deflation. In practice, the G3 are already moving toward a new monetary regime that resembles FFIT in transparency, but not in accountability. ER -