Inflation Targeting, Exchange Rate and Financial Globalization
نویسندگان
چکیده
منابع مشابه
Inflation Targeting and Exchange Rate Regimes: Evidence from the Financial Markets∗
Inflation targeting is gaining popularity as a framework for conducting monetary policy. At the same time many countries employ some sort of foreign exchange intervention policy assuming that these two policies can coexist. This paper attempts to show that both policies are not sustainable. Israel is a classic test case. We test our hypothesis using information from the financial markets. The r...
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We are grateful to participants at that workshop and colleagues at the Reserve Bank for their comments on the paper. We are particularly indebted to Luci Ellis for numerous comments and technical assistance with the use of Mathematica. The views expressed in this paper are our own and should not be attributed to the Reserve Bank of Australia.
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In this paper, stochastic simulations of the Reserve Bank of New Zealand’s new macroeconomic model, FPS, are used to examine the issue of which price index should monetary policy stabilise in a small open economy. Under the class of policy rules considered, targeting a measure of domestic inflation, which does not include the direct effects of exchange rate movements on the price of imported go...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1968922