İnflyasiya hədəflənməsinin əməliyyat çərçivəsi: ölkə təcrübələri AMB üçün nə vəd edir?

Adigozalov, Shaig and Huseynov, Salman (2015): İnflyasiya hədəflənməsinin əməliyyat çərçivəsi: ölkə təcrübələri AMB üçün nə vəd edir?

Abstract

The CBAR plans to make a transition from the current peg regime where exchange rate acts as a “nominal anchor” to an inflation targeting (IT) regime. All leading central banks which adhere to an IT regime adopt a respective operational framework consistent with the announced monetary regime. Unfortunately, in compared to the transmission mechanism of the monetary policy which is under the spotlight, operational frameworks are not that much illuminated. This study explores a relatively “least conspicuous facet” of monetary policy, mainly focusing on experiences of various leading central banks. In addition, this paper analyzes the current operational framework of the Bank, pointing out the constraints and proposes several recommendations on how to adopt a proper operational framework for the new regime.

• Item Type: MPRA Paper
• English Title: Operational framework of Inflation Targeting: what promises do country experiences make to the CBAR?
• Language: Azerbaijani
• Keywords: Inflation Targeting, operational framework, monetary transmission
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E43 - Interest Rates: Determination, Term Structure, and Effects; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies

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