Normal view MARC view ISBD view

Kongsamut, Piyabha.

Philippines Preparations for Inflation Targeting / Piyabha Kongsamut. [electronic resource] : Piyabha Kongsamut. - Washington, D.C. : International Monetary Fund, 2001. - 1 online resource (20 p.) - IMF Working Papers; Working Paper ; No. 01/99 . - IMF Working Papers; Working Paper ; No. 01/99 .

The Philippines is planning to shift toward adoption of an inflation targeting framework in 2001. This paper reviews key policy issues in this context, describes various operational and technical preparations, and presents an empirical analysis of the factors driving inflation. Among the key policy requirements, while central bank independence appears assured, the exchange rate has been allowed to fluctuate largely freely, and the authorities are embarking on a medium-term plan for fiscal consolidation. Empirical results suggest that the effective exchange rate (rather than a bilateral rate) and wages are important long-run influences on inflation.

ISBN: 1451852274 : 15.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781451852271.001 doi

Subjects--Topical Terms:
Business Fluctuations
Central Bank
Inflation Modeling
Inflation Target
Inflation Targeting
Inflation

Subjects--Geographic Terms:
Philippines