Contributors working at the International Monetary Fund present 14 chapters on the development of monetary policy over the past quarter century through the lens

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The

Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully e

This paper develops a new central bank transparency index for inflation-targeting central banks (CBT-IT index). It applies the CBT-IT index to the Czech Nationa

The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of di