Setting the Operational Framework for Producing Inflation Forecasts /

How should a central bank organize itself to produce the best possible inflation forecast? This paper discusses elements for building a comprehensive platform for an inflation forecasting framework. It describes the exercise of forecasting inflation as a production process, which induces a strict di...

詳細記述

書誌詳細
第一著者: Kisinbay, Turgut
その他の著者: Canales Kriljenko, Jorge, Maino, Rodolfo, Parrado, Eric
フォーマット: 雑誌
言語:English
出版事項: Washington, D.C. : International Monetary Fund, 2006.
シリーズ:IMF Working Papers; Working Paper ; No. 2006/122
オンライン・アクセス:Full text available on IMF
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245 1 0 |a Setting the Operational Framework for Producing Inflation Forecasts /  |c Turgut Kisinbay, Eric Parrado, Rodolfo Maino, Jorge Canales Kriljenko. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2006. 
300 |a 1 online resource (47 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a How should a central bank organize itself to produce the best possible inflation forecast? This paper discusses elements for building a comprehensive platform for an inflation forecasting framework. It describes the exercise of forecasting inflation as a production process, which induces a strict discipline concerning data management, information gathering, the use of a suitable statistical apparatus, and the exercise of sound communication strategies to reinforce reputation and credibility. It becomes critical how a central bank organizes itself to produce relevant macroeconomic forecasts, with special consideration to product design, the essential requirements needed in the forecasting process, and key related organizational issues. In addition, the paper proposes to factor into the process the authorities' policy responses to previous inflation forecasts in order to be consistent with the spirit of the inflation targeting framework. 
538 |a Mode of access: Internet 
700 1 |a Canales Kriljenko, Jorge. 
700 1 |a Maino, Rodolfo. 
700 1 |a Parrado, Eric. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2006/122 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2006/122/001.2006.issue-122-en.xml  |z IMF e-Library