01847cas a2200277 a 4500 AALejournalIMF005363 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451870923 1018-5941 BD-DhAAL BD-DhAAL Smidkova, Katerina. Inflation Targeting and Communication : It Pays Off to Read Inflation Reports / Katerina Smidkova, Viktor Kotlan, David Navratil, Ales Bulir. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (42 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 Inflation-targeting central banks have a respectable track record at explaining their policy actions and corresponding inflation outturns. Using a simple forward-looking policy rule and an assessment of inflation reports, we provide a new methodology for the empirical evaluation of consistency in central bank communication. We find that the three communication tools-inflation targets, inflation forecasts, and verbal assessments of inflation factors contained in quarterly inflation reports-provided a consistent message in five out of six observations in our 2000-05 sample of Chile, the Czech Republic, Hungary, Poland, Thailand, and Sweden. Mode of access: Internet Bulir, Ales. Kotlan, Viktor. Navratil, David. IMF Working Papers; Working Paper ; No. 2008/234 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/234/001.2008.issue-234-en.xml IMF e-Library