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dc.contributor.authorOrphanides, Athanasios 1965-
dc.contributor.authorWilliams, John C.
dc.date.accessioned2019-11-01T00:04:06Z
dc.date.available2019-11-01T00:04:06Z
dc.date.issued2007
dc.identifier.isbn978-956-7421-28-2
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3720
dc.descriptionA central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are essential. Well-anchored expectations enable inflation-targeting central banks to achieve stable output and employment in the short run, while ensuring price stability in the long run. Three elements of inflation targeting have been critically important for the successful implementation of this framework. First and foremost is the announcement of an explicit quantitative inflation target and the acknowledgment that low, stable inflation is the primary objective and responsibility of the central bank. Second is the clear communication of the central bank’s policy strategy and the rationale for its decisions, which enhances the predictability of the central bank’s actions and its accountability to the public. Third is a forward-looking policy orientation, characterized by the vigilant monitoring of inflation expectations at both short-term and longer-term horizons. Together, these elements provide a focal point for inflation, facilitate the formation of the public’s inflation expectations, and provide guidance on actions that may be needed to foster price stability.
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 77-123
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking, Analysis, and Economic Policies, no. 11
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectINFLACIÓNes_ES
dc.subjectBANCOS CENTRALESes_ES
dc.titleInflation targeting under imperfect knowledge
dc.type.docArtículo
dc.file.nameBCCh-sbc-v11-p077_123


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Attribution-NonCommercial-NoDerivs 3.0 Chile
Excepto si se señala otra cosa, la licencia del ítem se describe como Attribution-NonCommercial-NoDerivs 3.0 Chile