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Inflation targeting in the world economy
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ISBN: 0881323454 Year: 2003 Publisher: Washington Institute for International Economics


Book
Monetary policy in low-inflation economies
Authors: ---
ISBN: 9780511605475 9780521848503 9781107514119 0521848504 9780511605178 051160517X 1107195829 1107514118 1282317954 9786612317958 0511604556 0511603770 0511604874 0511602995 0511605471 Year: 2009 Publisher: Cambridge : Cambridge University Press,

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Abstract

All central banks manage the supply of money and credit in their countries, increasing and decreasing them as needed to provide what economies need to keep growing. The way central banks typically handle that job involves short-term interest rates. But when inflation is low, central banks can't use their usual methods to get money and credit into an economy that needs it. Several essays in this volume describe the work of economists who have investigated problems that central banks might have when inflation gets low. Other essays investigate related questions such as whether an economy suffers when it moves from high inflation to low inflation, what the costs of inflation are to economic welfare, and whether a little bit of inflation can actually be good for economic growth.


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The role of the exchange rate in inflation-targeting emerging economies
Authors: ---
ISBN: 9781589067967 1589067967 Year: 2009 Volume: 267 Publisher: Washington, D.C. International Monetary Fund

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This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little agreement about the appropriate role of the exchange rate.The exchange rate is a more important monetary policy tool for emerging economies that have adopted inflation targeting than it is for inflation-targeting advanced economies. Inflation-targeting emerging economies generally have less flexible exchange rate arrangements and intervene more frequently in the foreign exchange market than their advanced economy counterparts. The enhanced role of the exchange rate reflects these economies' greater vulnerability to exchange rate shocks and their less developed financial markets. However, their sharper focus on the exchange rate may cause some confusion about the commitment of their central banks to achieve the inflation target and may also complicate policy implementation. Global inflation pressures, greater exchange rate volatility, and the financial stresses from the global financial turmoil that began in mid-2007 are heightening these tensions.--Publisher's description.


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Remembering inflation
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ISBN: 9780691145402 0691145407 1299688063 1400846447 9781400846443 9781299688063 Year: 2013 Publisher: Princeton, New Jersey

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Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960's to early 1980's. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons learned during that period very much in mind, lest we return to them by making the same mistakes we made in the past. Granville details the advances in macroeconomic thinking that gave rise to the "Great Moderation"--a period of stable inflation and economic growth, which lasted from the mid-1980's through the most recent financial crisis. She makes the case that the central banks' management of monetary policy--hinging on expectations and credibility--brought about this period of stability, and traces the roots of this success back to the eighteenth-century foundations of modern monetary thought. Tackling fundamental questions such as the causes of inflation and its relation to unemployment and growth, the natural rate of inflation hypothesis, the fiscal theory of the price level, and the proper goals of central banks, the book aims above all to demonstrate the dangers of forgetting the role of credibility in establishing sound monetary policy. With the lessons of the past firmly in mind, Granville presents stimulating ideas and proposals about inflation-targeting principles, which provide tools for present-day monetary authorities dealing with the forces of globalization, mercantilism, and reserve accumulation.

Money, prices and the real economy
Authors: ---
ISBN: 1858986125 9781858986128 Year: 1998 Publisher: Cheltenham: Elgar,


Book
Over geld en monetair beleid in Nederlands en Europees perspectief
Authors: ---
ISBN: 0444857540 9780444857545 Year: 1992 Volume: 55,7

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Inflation and disinflation : the Israeli experiment
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ISBN: 0226471101 Year: 1993 Publisher: Chicago University of Chicago Press

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