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Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national currency with the euro, but can choose when to request...
Persistent link: https://www.econbiz.de/10005767345
Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …
Persistent link: https://www.econbiz.de/10011245903
direct bearing on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as …
Persistent link: https://www.econbiz.de/10011245904
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 …
Persistent link: https://www.econbiz.de/10011245907
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
This paper addresses analytical aspects of exchange rate policy and emphasizes the relationship among exchange rate flexibility, financial discipline, and international competitiveness.
Persistent link: https://www.econbiz.de/10005767344
This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...
Persistent link: https://www.econbiz.de/10005767351
Persistent link: https://www.econbiz.de/10005767372
fixed exchange rate regimes, while trend real appreciation makes the combination of low inflation and exchange rate … alternative monetary framework, inflation targeting. …
Persistent link: https://www.econbiz.de/10005771370
The IMF's internal analysis of exchange rate issues has been guided by, and limited by, the conceptual and empirical frameworks that have emerged from the collective research of the economics profession. The research has provided several general approaches that are useful for assessing whether...
Persistent link: https://www.econbiz.de/10005590920