The Resource Inflation targeting and exchange rate rules in an open economy, Eric Parrado

Inflation targeting and exchange rate rules in an open economy, Eric Parrado

Label
Inflation targeting and exchange rate rules in an open economy
Title
Inflation targeting and exchange rate rules in an open economy
Statement of responsibility
Eric Parrado
Creator
Contributor
Author
Issuing body
Subject
Language
eng
Summary
This paper provides a simple dynamic neo-Keynesian model that can be used to analyze the impact of monetary policy that considers inflation targeting in a small open economy. This economy is characterized by imperfect competition and short-run price rigidity. The main findings of the paper are that, depending on what shocks affect the economy, the effects of inflation targeting on output and inflation volatility depend crucially on the exchange rate regime and the inflation index being targeted. First, in the presence of real shocks, flexible exchange rates dominate managed exchange rates, while for nominal shocks the reverse is true. Second, domestically generated inflation targeting is preferable to CPI inflation targeting, because the former is more stabilizing not only in relation to both measures of inflation, but also to the output gap and the real exchange rate. Finally, flexible inflation targeting outperforms strict inflation targeting in terms of welfare
Member of
Action
digitized
Cataloging source
OCLCE
Dewey number
332.11
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.04/21
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/04/21
Label
Inflation targeting and exchange rate rules in an open economy, Eric Parrado
Publication
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 34-36)
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
ocn647657440
Dimensions
unknown
Extent
1 online resource (36 pages)
File format
one file format
Form of item
online
Isbn
9781283569866
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations
http://library.link/vocab/recordID
.b37166943
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)647657440
  • imf1283569868
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

Library Locations

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