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Money. Monetary policy --- Quantitative methods (economics) --- Inflation (Finance) --- International finance --- Economic stabilization --- Econometric models --- -Inflation (Finance) --- -International finance --- -International monetary system --- International money --- Finance --- International economic relations --- Adjustment, Economic --- Business stabilization --- Economic adjustment --- Stabilization, Economic --- Economic policy --- -Econometric models --- Inflation (Finance) - Econometric models --- International finance - Econometric models --- Economic stabilization - Econometric models

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This paper provides an overview of statistical measurement issues relating to alternative measures of core inflation, and the criteria for choosing among them. The approaches to measurement considered include exclusion-based methods, imputation methods, limited influence estimators, reweighting, and economic modeling. Criteria for judging which approach to use include credibility, control, deviations from a smoothed reference series, volatility, predictive ability, causality and cointegration tests, and correlation with money supply. Country practice can differ in how the approaches are implemented and how their appropriateness is assessed. There is little consistency in the results of country studies to readily suggest guidelines on accepted methods.

Electronic books. -- local. --- Finance -- Econometric models. --- Inflation (Finance) -- Econometric models. --- Finance --- Business & Economics --- Money --- Inflation (Finance) --- Econometric models. --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Price Level --- Deflation --- Monetary Policy --- Monetary economics --- Consumer price indexes --- Inflation targeting --- Price indexes --- Prices --- Monetary policy --- United Kingdom

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Under a flexible inflation targeting regime, should policymakers avoid any reaction to movements in the foreign exchange market? Using data for six advanced open economies explicitly targeting inflation, the paper examines empirically whether real exchange rate disequilibria systematically affect the conduct of monetary policy. Estimates indicate that monetary policy responses in inflation-targeting, open economies have changed significantly, as the institutional framework for the conduct of monetary policy has evolved. In particular, an explicit target for core inflation and a greater use of the expectation channel of monetary policy appear to be key features of the newest policy framework. In this context, central banks are unlikely to react to regular fluctuations in the exchange rate.

Electronic books. -- local. --- Foreign exchange rates -- Econometric models. --- Inflation (Finance) -- Econometric models. --- Monetary policy -- Econometric models. --- Foreign Exchange --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Money and Interest Rates: General --- Monetary Policy --- Central Banks and Their Policies --- Price Level --- Deflation --- Currency --- Foreign exchange --- Monetary economics --- Exchange rates --- Real exchange rates --- Inflation targeting --- Consumer price indexes --- Monetary policy --- Prices --- Price indexes --- New Zealand --- Inflation (Finance) --- Foreign exchange rates --- Econometric models.

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Based on the observed behavior of monetary aggregates and exchange rates, we classify inflation-stabilization episodes into two categories: de facto exchange rate-based stabilizations (ERBS) and non-ERBS. Unlike the standard de jure ERBS studied in the literature, de facto ERBS encompass cases in which the central bank intervenes in the foreign exchange market but does not preannounce the use of an exchange rate anchor. The number of the de facto ERBS is twice as large as that of de jure ERBS. Output dynamics during disinflation do not differ significantly between these two groups. We conclude that empirical studies on the effects of exchange rate anchors must seek to disentangle the effects of their announcement from those related to their role in the remonetization process.

Electronic books. -- local. --- Foreign exchange rates -- Econometric models. --- Inflation (Finance) -- Econometric models. --- Interest rates -- Econometric models. --- Foreign Exchange --- Inflation --- Money and Monetary Policy --- Price Level --- Deflation --- Monetary Policy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Monetary economics --- Macroeconomics --- Currency --- Foreign exchange --- Exchange rates --- Exchange rate anchor --- Monetary base --- Disinflation --- Prices --- Monetary policy --- Money supply --- Argentina --- Inflation (Finance) --- Foreign exchange rates --- Interest rates --- Econometric models.

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This Selected Issues paper sets out options to demonstrate how the authorities could supplement their cash balance target and public debt limit with an anchor to help discipline annual budget decisions. The paper introduces the current fiscal framework and effective fiscal rules based on international experiences, including the characteristics of each rule. It also discusses the need for a new fiscal anchor, given high revenue volatility, high infrastructure needs, and the country’s exposure and vulnerability to natural disasters. Contingency warrants for unforeseen expenditures, including from natural disasters, should be included in the budget in line with international best practices. Furthermore, if a disaster does not occur, this allocation could be saved in a contingency fund for natural disasters, which would enable swift disbursement in the aftermath of the disaster. The fund would be set up once fiscal buffers have been rebuilt. The IMF Staff suggests a target for the overall fiscal deficit of 1.5 percent of gross domestic product as a possible fiscal anchor, which would strike a balance between safeguarding debt sustainability and addressing the severe infrastructure gap.

Inflation (Finance)--Econometric models. --- Mines and mineral resources. --- Solomon Islands. --- Deposits, Mineral --- Mineral deposits --- Mineral resources --- Mines and mining --- Mining --- Natural resources --- Geology, Economic --- Minerals --- Infrastructure --- Investments: General --- Macroeconomics --- Public Finance --- Natural Disasters --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Investment --- Capital --- Intangible Capital --- Capacity --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- Debt --- Debt Management --- Sovereign Debt --- Public finance & taxation --- Natural disasters --- Public investment and public-private partnerships (PPP) --- Public investment spending --- Fiscal policy --- Expenditure --- National accounts --- Saving and investment --- Public-private sector cooperation --- Public investments --- Expenditures, Public --- Solomon Islands --- Inflation (Finance) --- Econometric models.