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

• Autore: Leiderman Leonardo
• 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
• 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
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/157