Monetary Regimes And Inflation
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Monetary Regimes And Inflation
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Author : Peter Bernholz
language : en
Publisher: Edward Elgar Publishing
Release Date : 2015-04-30
Monetary Regimes And Inflation written by Peter Bernholz and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-30 with Business & Economics categories.
Exploring the characteristics of inflations and comparing historical cases from Roman times up to the modern day, this book provides an in depth discussion of the subject. It analyses the high and moderate inflations caused by the inflationary bias of
Monetary Regimes And Inflation
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Author : Peter Bernholz
language : en
Publisher:
Release Date : 2003
Monetary Regimes And Inflation written by Peter Bernholz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Economic stabilization categories.
A New Taxonomy Of Monetary Regimes
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Author : Mr.Ashok Bhundia
language : en
Publisher: International Monetary Fund
Release Date : 2004-10-01
A New Taxonomy Of Monetary Regimes written by Mr.Ashok Bhundia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-10-01 with Business & Economics categories.
This paper proposes a new taxonomy of monetary regimes defined by the choice and clarity of the nominal anchor. The regimes are as follows: (i) monetary nonautonomy, (ii) weak anchor, (iii) money anchor, (iv) exchange rate peg, (v) full-fledged inflation targeting, (vi) implicit price stability anchor, and (vii) inflation targeting lite. This taxonomy captures the commitment-discretion tradeoffs that lie at the heart of choosing a monetary regime. During the last 15 years the world has moved toward monetary regimes with less discretion. Empirical analysis suggests that country regime choices reflect the level of financial and economic development and recent inflation history.
Monetary Regime Transformations
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Author : Barry J. Eichengreen
language : en
Publisher: Edward Elgar Publishing
Release Date : 1992
Monetary Regime Transformations written by Barry J. Eichengreen and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Chicago school of economics categories.
This important volume collects, for the first time, key essays and papers on monetary regime transformations by economists, historians and political scientists alike. The inflation of the 1970s prompted considerable research by economists on monetary regimes and their transformation. However, empiricists who take seriously the notion that monetary regimes matter must necessarily examine long spans of data and, by implication, analyse historical experience. Empirical research on monetary regimes necessarily is historical research. The landmark volume - presenting as it does a careful selection of the most important historical essays - will be essential to an understanding of monetary regime transformations.
The Journey To Inflation Targeting
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Author : Mr.Bernard Laurens
language : en
Publisher: International Monetary Fund
Release Date : 2015-06-25
The Journey To Inflation Targeting written by Mr.Bernard Laurens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-25 with Business & Economics categories.
Countries with evolving monetary regimes that decide to embark on “the Journey to inflation targeting” may not be able to adopt a full-fledged inflation targeting regime immediately. Those countries would be better off adopting transitional arrangements that take advantage of the informational content of monetary aggregates, developing an economic analysis capacity, and concentrating on monetay operations aimed at steering money market interest rates. This approach would allow the central bank to buy time for developing the building blocks for effective monetary policy, support transparent central bank communication, and limit the potential for undesirable outcomes along the road.
A New Taxonomy Of Monetary Regimes
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Author : Mark Stone
language : en
Publisher:
Release Date : 2006
A New Taxonomy Of Monetary Regimes written by Mark Stone and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper proposes a new taxonomy of monetary regimes defined by the choice and clarity of the nominal anchor. The regimes are as follows: (i) monetary nonautonomy, (ii) weak anchor, (iii) money anchor, (iv) exchange rate peg, (v) full-fledged inflation targeting, (vi) implicit price stability anchor, and (vii) inflation targeting lite. This taxonomy captures the commitment-discretion tradeoffs that lie at the heart of choosing a monetary regime. During the last 15 years the world has moved toward monetary regimes with less discretion. Empirical analysis suggests that country regime choices reflect the level of financial and economic development and recent inflation history.
Evolution And Performance Of Exchange Rate Regimes
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Author : Mr.Kenneth Rogoff
language : en
Publisher: International Monetary Fund
Release Date : 2003-12-01
Evolution And Performance Of Exchange Rate Regimes written by Mr.Kenneth Rogoff and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-12-01 with Business & Economics categories.
Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility.
Inflation Targeting Regimes
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Author : Alina Carare
language : en
Publisher: International Monetary Fund
Release Date : 2003
Inflation Targeting Regimes written by Alina Carare and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
This paper classifies countries that define their monetary policy framework by an inflation target into full-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes. This classification is based on indicators of the clarity and credibility of the commitment to the inflation target. The three regimes can be viewed as corresponding to different welfare maximizing combinations of policy objectives, each conditional on a country's "endowed" level of credibility. The credibility of the regimes is related empirically to structural differences. Policy implications are drawn, especially for emerging market countries aiming at full-fledged inflation targeting.
Fixed Or Floating Exchange Regimes
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Author : Peter J. Quirk
language : en
Publisher: International Monetary Fund
Release Date : 1994-11-01
Fixed Or Floating Exchange Regimes written by Peter J. Quirk and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-11-01 with Business & Economics categories.
This paper reviews recent experience with the choice of floating or fixed (“anchor”) exchange regimes in industrial and developing countries. It concludes that desirable differences between the two sets of regimes have narrowed, owing to the useful operational role of exchange rate margins and unavoidable medium-term rate adjustments in the context of fixed regimes. A survey of recent empirical cross-country literature also suggests little unambiguous association of the choice of exchange regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has generally been a by-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility depend on the country-specific assignments of policy instruments to more than one institution--central bank, government, or regional and multilateral institutions.
Inflation Targeting And Exchange Rate Regimes In Emerging Markets
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Author : Mr. Christian Ebeke
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-28
Inflation Targeting And Exchange Rate Regimes In Emerging Markets written by Mr. Christian Ebeke and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-28 with Business & Economics categories.
This paper investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions. Using a large sample of EMs and after controlling for the selection bias associated with the adoption of IT, we find that IT countries on average have a relatively more flexible exchange rate regime than other EMs. However, the flexibility of the exchange rate regime shows strong heterogeneity among IT countries depending on their degree of openness and exposure to FX risks. Moreover, we find that the marginal effect of IT adoption on the exchange rate flexibility increases with the duration of the IT regime in place, and with the propensity scores to adopt it.