In the aftermath of a major financial crisis in the 1990s, price stability has become an important argument of the future monetary policy stance in many emerging economies. As such, emerging economies in Asia and Latin America have switched to inflation targeting as their monetary policy. This...

This study addresses the potential trade-off between inflation and exchange rate targeting in former transition countries, which now may be labeled emerging market economies and which prepare for entry into the Economic and Monetary Union (EMU). Among this group of countries, some implemented...

This paper examines the fiscal impact of privatization revenues in 47 developing countries. There are many reasons that privatization is attractive for the central government of developing countries. If substantial, these revenues from the sale of state owned enterprises can present a potential...

The relationship between appreciation of the exchange rate and employment is investigated in the period 1980-2008 for the United States. Previous literature has found a negative relationship, studying as channels of transmission the role of exports, substitution of factors of production, terms...

The deficit of the Federal budget dominates the attention of the public arena. The process began with President Carter's ill-fated budget announcement in February 1980. The response of the bond market revealed at the time that an increasing segment of the public recognized the futility of...

Artículo de revista ; This note analyses the situation of Spanish general government debt in 2018. Public debt fell to 97.1% of GDP, owing mainly to high economic growth. The average life of the debt stood at 7.5 years, with securities representing 86.4% of total debt and with the holdings of...

There is a growing debate in the emerging market on the choice of an appropriate monetary or exchange rate policy that could lead to a sustainable economic growth. Inflation targeting has become one of these policy alternatives and has recently been implemented in some of the emerging markets in...

The paper analyzes exchange rate regimes implemented by the major Latin American countries since the Second World War, with special attention on the period of the second globalization process beginning in the 1970s. The analysis follows a historical narrative aiming to provide an understanding...

The paper examines the inflation targeting regime in the context of transition economies. Recent years have witnessed an increasing number of central banks in these countries moving towards the implementation of inflation targeting regimes. However, the success of such a regime depends largely...

This study proposes an extension to the inflation targeting framework for Poland that takes into consideration the exchange rate stability constraints imposed by the obligatory participation in the ERM2 on the path to the euro. The modified policy framework is based on targeting the differential...