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Philippines Preparations for Inflation Targeting

The Philippines is planning to shift toward adoption of an inflation targeting framework in 2001. This paper reviews key policy issues in this context, describes various operational and technical preparations, and presents an empirical analysis of the factors driving inflation. Among the key policy...

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Bibliographic Details
Main Author: Kongsamut, Piyabha
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2001
Series:IMF Working Papers
Subjects:
Monetary Policy
Dynamic Treatment Effect Models
Time-series Models
Prices, Business Fluctuations, And Cycles: Forecasting And Simulation
Foreign Exchange
Inflation Targeting
Consumer Price Indexes
Nominal Effective Exchange Rate
Currency
State Space Models
Diffusion Processes
Exchange Rates
Price Indexes
Prices
Deflation
Monetary Economics
Inflation
Money And Monetary Policy
Dynamic Quantile Regressions
Macroeconomics
Price Level
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:The Philippines is planning to shift toward adoption of an inflation targeting framework in 2001. This paper reviews key policy issues in this context, describes various operational and technical preparations, and presents an empirical analysis of the factors driving inflation. Among the key policy requirements, while central bank independence appears assured, the exchange rate has been allowed to fluctuate largely freely, and the authorities are embarking on a medium-term plan for fiscal consolidation. Empirical results suggest that the effective exchange rate (rather than a bilateral rate) and wages are important long-run influences on inflation
Physical Description:20 pages
ISBN:9781451852271

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