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Stabilizing inflation in Iceland /
This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open economy such as Iceland. Estimated macroeconomic models of Canada, Iceland, New Zealand, the United Kingdom, and the United States are used to derive efficient monetary policy frontie...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2006.
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| Colección: | IMF working paper ;
WP/06/262. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open economy such as Iceland. Estimated macroeconomic models of Canada, Iceland, New Zealand, the United Kingdom, and the United States are used to derive efficient monetary policy frontiers that trace out the locus of the lowest combinations of inflation and output variability that are achievable under a range of alternative monetary policy rules. These frontiers illustrate that inflation stabilization is more challenging in Iceland than in other industrial countries primarily because of the relative magnitudes of the economic shocks. |
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| Descripción Física: | 1 online resource (35 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1283514729 9781283514729 9781451909753 1451909756 1462324568 9781462324569 1452729956 9781452729954 9786613827173 6613827177 |
| ISSN: | 2227-8885 ; |