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Countries that specialize in commodity exports often exhibit a correlation between the relevant commodity price and the value of their currency. We explore a natural but little-studied explanation for this correlation. An increase in the commodity price leads to increases in the future values of...
Persistent link: https://www.econbiz.de/10012480727
inflation stabilization and those of terms of trade manipulation in an open economy. The implementation of an efficient monetary …
Persistent link: https://www.econbiz.de/10012480762
inflation stabilization and those of terms of trade manipulation in an open economy. The implementation of an efficient monetary …
Persistent link: https://www.econbiz.de/10012910289
Countries that specialize in commodity exports often exhibit a correlation between the relevant commodity price and the value of their currency. We explore a natural but little-studied explanation for this correlation. An increase in the commodity price leads to increases in the future values of...
Persistent link: https://www.econbiz.de/10012910649
The dangers of high capital flow volatility and sudden stops have led economists to promote the use of capital controls as an addition to monetary policy in emerging market economies. This paper studies the benefits of capital controls and monetary policy in an open economy with financial...
Persistent link: https://www.econbiz.de/10013010292
are minor, and an inflation targeting rule represents an ef- fective policy for the EME. With frictions in financial … intermediation, however, spillovers are substantially magnified, and an inflation targeting rule has little advantage over an … exchange rate peg. However, an optimal monetary policy markedly improves on the performance of naive inflation targeting or an …
Persistent link: https://www.econbiz.de/10013011458
in monetary policy setting in the region.Full publication: "http://ssrn.com/abstract=2420025" Globalisation, Inflation …
Persistent link: https://www.econbiz.de/10013049951
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