International experiences with different monetary policy regimes / Frederick S. Mishkin.
Tipo de material: ArtículoIdioma: Inglés Descripción: p. 579-605Tema(s): En: Journal of monetary economics n. 3 (1999), p. 579-605.Resumen: This paper examines the international experiences with four basic types of monetary policy regimes: (1) exchange-rate targeting, (2) monetary targeting, (3) inflation targeting, and (4) monetary policy with an implicit but not an explicit nominal anchor. The basic theme that emerges from this analysis is that transparency and accountability are crucial to constraining discretionary monetary policy so that it produces desirable long-run outcomes. Because the devil is in the details in achieving transparency and accountability, what strategy will work best in a country depends on its political, cultural and economic institutions, as well as on its past history.Tipo de ítem | Biblioteca actual | Signatura topográfica | Estado | Notas | Fecha de vencimiento | Código de barras | |
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Analítica de revista | Biblioteca Manuel Belgrano | H 57965 n. 3, 1999 (Navegar estantería(Abre debajo)) | Disponible | Solicitar en CRAI | 57965 |
Incluye bibliografía.
This paper examines the international experiences with four basic types of monetary policy regimes: (1) exchange-rate targeting, (2) monetary targeting, (3) inflation targeting, and (4) monetary policy with an implicit but not an explicit nominal anchor. The basic theme that emerges from this analysis is that transparency and accountability are crucial to constraining discretionary monetary policy so that it produces desirable long-run outcomes. Because the devil is in the details in achieving transparency and accountability, what strategy will work best in a country depends on its political, cultural and economic institutions, as well as on its past history.
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