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Towards Inflation Targeting in Sri Lanka
Rahul AnandDing DingMr.Shanaka J. Peiris
出版International Monetary Fund, 2011-04-01
主題Business & Economics / Foreign ExchangeBusiness & Economics / Money & Monetary PolicyBusiness & Economics / Inflation
ISBN14552260769781455226078
URLhttp://books.google.com.hk/books?id=xHYYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper develops a practical model-based forecasting and policy analysis system (FPAS) to support a transition to an inflation forecast targeting regime in Sri Lanka. The FPAS model provides a relatively good forecast for inflation and a framework to evaluate policy trade-offs. The model simulations suggest that an open-economy inflation targeting rule can reduce macroeconomic volatility and anchor inflationary expectations given the size and type of shocks faced by the economy. Sri Lanka could aim to target a broad inflation range initially due to its susceptibility supply-side shocks while enhancing exchange rate flexibility and strengthening the effectiveness of monetary policy in the transition to an inflation forecast targeting regime.