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Inflation Targeting in Dollarized Economies / / Leonardo Leiderman, Rodolfo Maino, Eric Parrado



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Autore: Leiderman Leonardo Visualizza persona
Titolo: Inflation Targeting in Dollarized Economies / / Leonardo Leiderman, Rodolfo Maino, Eric Parrado Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
Descrizione fisica: 1 online resource (22 p.)
Soggetto topico: Anti-inflationary policies - Developing countries
Currency substitution - Developing countries
Monetary policy - Developing countries
Banks and Banking
Foreign Exchange
Inflation
Price Level
Deflation
Monetary Policy
Currency
Foreign exchange
Macroeconomics
Banking
Exchange rates
Real exchange rates
International reserves
Foreign exchange intervention
Prices
Foreign exchange reserves
Soggetto geografico: Peru
Altri autori: MainoRodolfo  
ParradoEric  
Note generali: "June 2006."
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. HOW DOES DOLLARIZATION AFFECT MONETARY POLICY?""; ""III. THE RECENT MONETARY EXPERIENCES OF PERU AND BOLIVIA""; ""IV. MONETARY POLICY TRANSMISSION""; ""V. REACTION FUNCTIONS""; ""VI. CONCLUDING REMARKS""; ""REFERENCES""
Sommario/riassunto: The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful implementation were not in place. The existence of managed exchange rate regimes, a narrow base of domestic nominal financial assets, the lack of market instruments to hedge exchange rate risks, together with fear of floating and dollarization, have been stressed as factors that might weaken the efficacy of monetary policy. By examining various aspects of monetary transmission and policy formulation in two highly dollarized economies (Peru and Bolivia) vis-à-vis two economies with low levels of dollarization (Chile and Colombia), we found that, while dollarization imposes differences in both the transmission capacity of monetary policy and its impact on real and financial sectors, it does not preclude the use of inflation targeting as a policy regime.
Titolo autorizzato: Inflation Targeting in Dollarized Economies  Visualizza cluster
ISBN: 1-4623-1953-X
1-4527-7839-6
1-283-51901-1
1-4519-8316-6
9786613831460
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788689503321
Lo trovi qui: Univ. Federico II
Opac: Controlla la disponibilità qui
Serie: IMF Working Papers; Working Paper ; ; No. 2006/157