Review Re-Establishing Credible Nominal Anchors After a Financial Crisis
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Re-Establishing Credible Nominal Anchors After a Financial Crisis
By:Mr. Alessandro Zanello,Mr. Mark R. Stone,Mr. Christopher J. Jarvis,Mr. Andrew Berg
Published on 2003-04-01 by International Monetary Fund

This paper studies the question of how to achieve monetary policy credibility and price stability after a financial crisis. We draw stylized facts and conclusions from ten recent cases: Brazil (1999); Bulgaria (1997); Ecuador (2000); Indonesia (1997); Korea (1997); Malaysia (1997); Mexico (1994), Russia (1998); Thailand (1997); and Turkey (2001). Among our conclusions, highlights include: (i) monetary policy alone cannot stabilize; (ii) floats bring nominal stability quickly in countries with low pre-crisis inflation and hard pegs have been at least narrowly successful for countries in deeper disarray; (iii) in floats, early and determined tightening brings nominal stability and does not appear more costly for output; (iv) monetary aggregate targeting rarely serves as a coherent framework for floats; informal or full-fledged inflation targeting offers more promise.
This Book was ranked at 29 by Google Books for keyword Currency crisis.
Book ID of Re-Establishing Credible Nominal Anchors After a Financial Crisis's Books is a8OrmoIZUagC, Book which was written byMr. Alessandro Zanello,Mr. Mark R. Stone,Mr. Christopher J. Jarvis,Mr. Andrew Berghave ETAG "I4GJYkNG3Hk"
Book which was published by International Monetary Fund since 2003-04-01 have ISBNs, ISBN 13 Code is 9781451992502 and ISBN 10 Code is 1451992505
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