TY  - BOOK
AU  - Kongsamut,Piyabha
TI  - Philippines: Preparations for Inflation Targeting 
T2  - IMF Working Papers; Working Paper
SN  - 1451852274 :
SN  - 1018-5941
PY  - 2001///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Business Fluctuations
KW  - imf
KW  - Central Bank
KW  - Inflation Modeling
KW  - Inflation Target
KW  - Inflation Targeting
KW  - Inflation
KW  - Philippines
N2  - 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
UR  - http://elibrary.imf.org/view/IMF001/05264-9781451852271/05264-9781451852271/05264-9781451852271.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451852271
ER  -