01677cas a2200241 a 4500 AALejournalIMF002716 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451875164 1018-5941 BD-DhAAL BD-DhAAL Stone, Mark. Greater Monetary Policy Transparency for the G3 : Lessons From Full-Fledged Inflation Targeters / Mark Stone. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The experience of full-fledged inflation targeting (FFIT) countries is used here to shed light on the costs and benefits of greater monetary policy transparency for the G3. For the United States and the euro area, a hypothetical adoption of FFIT would incur a cost of less discretion while gaining the benefit of locking in a highly credible framework. The adoption of FFIT by Japan would create the risk of a further hit to credibility if policy was not able to end deflation. In practice, the G3 are already moving toward a new monetary regime that resembles FFIT in transparency, but not in accountability. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2003/218 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/218/001.2003.issue-218-en.xml IMF e-Library