Balance of payments crises under inflation targeting
نویسندگان
چکیده
منابع مشابه
Balance of payments crises under inflation targeting ¬リニ
This paper analyzes a small open economy model under a monetary regime that targets the consumer price index. It is explained why such a regime is vulnerable to speculative currency attacks. There are two differences to the exchange rate targeting case: (i) The attack takes place over a short period of time as opposed to instantaneously. (ii) Reserve losses attributable to the attack are smalle...
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ژورنال
عنوان ژورنال: Journal of International Economics
سال: 2007
ISSN: 0022-1996
DOI: 10.1016/j.jinteco.2006.10.002