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PROS AND CONS OF INFLATION TARGETING STRATEGY
Mihaela SUDACEVSCHI
Lex et Scientia , 2011,
Abstract: The purpose of this paper is to define the inflation targeting strategy and its characteristics. Inflation targeting is a monetary policy strategy in which the central bank projected estimates and makes public, or “target” inflation rate and then, attempts to steer actual inflation towards the target through the use of interest rate changes and other monetary tools. Early proposals of monetary systems targeting the price level or the inflation rate, rather then exchange rate, followed the general crisis of the gold standard after the World War I. Inflation is usually measured as the change of prices for consumer goods, called Consumer Price Index (CPI). Inflation targeting assumes that this figure accurately represents growth or money supply, but is not always the case. The most serious exception occurs when factors external to the national economy are the cause of the price increase. A more essential objection to the strategy of inflation targeting is that it does not really comprise a specific set of monetary policy recommendation would traditional monetarism did, but just constitutes an explicit statement of the aims of the monetary authority.
INFLATION AND UNEMPLOYMENT IN THE ROMANIAN ECONOMY
EMILIA HERMAN
Annals of the University of Petrosani : Economics , 2010,
Abstract: The current economic theory and practice highlights the fact thatbetween inflation and unemployment, two macroeconomic issues which affect the lives ofmillions of individuals, directly and indirectly, there is no simple correlation. Taking intoconsideration these aspects, we aim to present a theoretical and empirical view on therelationship between inflation and unemployment in this study. Also, our intention is toanalyze if in Romania, during 1990 and 2009, there is a Phillips type relation between theinflation rate and the unemployment rate. The results of this research show that, in Romania,in the long run (20 years) one cannot identify a stable, statistically significant relationshipbetween inflation and unemployment.
Thoughts on China’s Growth of Economy and Inflation  [cached]
Jingmin Wang,Jianqing Zhang
Asian Social Science , 2009, DOI: 10.5539/ass.v4n4p15
Abstract: In China, the constantly increasing CPI (Consumer Price Index) has become a prominent signal that indicates an overheated macro economy. An overheated economy and future surplus productivity will lead to a prediction of inflation, which will sustain the inflation in an evil circulation driven by costs and pulled by demand. As a result, it will cause severe financial instability. Therefore, applying a tight monetary policy, adopting a package of control measures, optimizing the structure of economy, and improving the quality of economic growth can help to achieve a fast and healthy development of national economy.
Money Supply and Inflation Relationship in the Turkish Economy
Cahit Gungor,Ali Berk
Journal of Applied Sciences , 2006,
Abstract: The relationship degree between money supply and inflation is one of the important element in macroeconomic policy as governments try to control inflation. In this study, this relationship and its inflation forecasting potential is investigated for the Turkish Economy. The multilayer perceptron neural network model is constructed for the monthly data set from 1996:2 to 2006:1. Broad money supply plus foreign demand deposits (M2Y), seasonal dummy, time trend dummy and previous inflation (auto-regressive term) are used as input variables and inflation is used as output variable of the model. Sensitivity analysis is applied to discover the cause and effect relationship between input and output variables. Results show that the model predicts the level of the inflation with a reasonably good degree of accuracy.
On Inflation Accounting in China  [cached]
Zhenghong Che,Xianxue Li
Modern Applied Science , 2011, DOI: 10.5539/mas.v5n2p156
Abstract: Recently, China has a more prominent trend of domestic price rise, which has obviously influenced public’s daily life and corporate production and operation. If we don’t take effective measures to deal with price trend, it will lead to further strengthened inflation expectation and deteriorate market economy order. Business community is actively seeking countermeasures to deal with the impact of inflation, and discuss how to circumvent the risks of inflation by using of inflation accounting.
Inflation And Indian Economy – An Analysis In Indian Context  [PDF]
Usha N. Patil
Golden Research Thoughts , 2012, DOI: 10.9780/22315063
Abstract: It is hard to believe the fact that even after 21 years; we are again going through another turbulent phase. True, we have definitely grown since 1991 but the main imbalances then -fiscal deficit and current account deficit- are in reckoning again and have become the main concerns of today. Rising inflation was the most recent ticklish political issue that hit the Manmohan Singh government. But was inflation rising because of price rise in essential commodities? Or was it because of the of calculating inflation? My Research paper is highlights two phase of Inflation one of them what is Inflation?, Current Account to GDPComparisons between India and Other Country, India Inflation Rate and second, Commodity futures, twin-track inflation, factors of inflation rates, Effects and Controlling Inflation and Highlight of RBI Monetary Policy review.
THEORETICAL CONSIDERATIONS OF ENERGY IN THE GLOBAL ECONOMY
PANKAJ H. KOKATE , V.V. KULKARNI AND D. H. KOKATE
Golden Research Thoughts , 2013, DOI: 10.9780/22315063
Abstract: Energy is a foundation of economy. Energy provides an essential ingredient foralmost all human activities: it provides services for cooking and space/water heating,lighting, health, food production and storage, education, mineral extraction, industrialproduction and transportation. Energy services are a powerful engine of economic andsocial development, and no country has managed to develop much beyond a subsistenceeconomy without ensuring at least minimum access to energy services for a broadsection of its population. Throughout the world, the energy resources available to themand their ability to pay largely determine the way in which people live their lives.Nevertheless, it is critical to recognize that what people want are the services that energyprovides, not fuel or electricity per se.
Fiscal Policy Restrictions on Inflation Targeting: A Political Economy Approach*
Hernando Vargas,Yanneth Rocío Betancourt;
Desarrollo y Sociedad , 2010,
Abstract: fiscal policy may impose restrictions on inflation targeting when central bank independence (cbi) is institutionally weak and society has a real exchange rate target that is highly valued. in this environment, fiscal policy constrains the decisions of a committed, independent central bank (cb) regarding inflation. when such a pressure is strong enough to threaten cbi , monetary authorities react by setting an inflation target that differs from the one that would prevail in the absence of those threats. a simple model is used to illustrate this point where the cb takes into account the probability of survival as an independent institution.
Fiscal Policy Restrictions on Inflation Targeting: A Political Economy Approach
Hernando Vargas,,Yanneth Rocío Betancourt
Desarrollo y Sociedad , 2010,
Abstract: Fiscal policy may impose restrictions on Inflation Targeting when Central Bank Independence (cbi) is institutionally weak and society has a real exchange rate target that is highly valued. In this environment, fiscal policy constrains the decisions of a committed, independent Central Bank (cb) regarding inflation. When such a pressure is strong enough to threaten cbi, monetary authorities react by setting an inflation target that differs from the one that would prevail in the absence of those threats. A simple model is used to illustrate this point where the cb takes into account the probability of survival as an independent institution.
An Inflation Targeting Regime in Egypt: A Feasible Option?  [PDF]
Tarek Ghalwash
Modern Economy (ME) , 2010, DOI: 10.4236/me.2010.12009
Abstract: This paper addresses first whether scientific evidence—theoretical and empirical—exists to support the inflation targeting regime and, secondly whether inflation target is worthwhile for Egypt. The method in this paper builds on a literature review of the theoretical and empirical research in the field of economics. Our conclusion shows that there is incomplete evidence from a number of countries supporting the inflation targeting regime as an effective monetary policy framework for the achievement of macroeconomic stability. The paper concludes that the Central Bank of Egypt and the Egyptian economy is not yet ready for the implementation of an inflation targeting regime.
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