Is Old Money Better than New? Duration and Monetary Regimes

Artikel

We compare the duration and performance of different monetary regimes, especially the contrast between countries those that fix exchange rates and those that target inflation. Inflation targeting is a more durable policy; no country has yet been forced to abandon an inflation target, while many have abandoned fixed exchange rates. Indeed, even though inflation targeting began only in 1990, the duration of inflation targeting regimes is at least as long as, or longer than all alternative monetary regimes for comparable countries. Regime duration also matters in monetary policy; older regimes are typically more successful than younger ones in achieving low inflation.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Economics: The Open-Access, Open-Assessment E-Journal ; ISSN: 1864-6042 ; Volume: 2 ; Year: 2008 ; Issue: 2008-13 ; Pages: 1-24 ; Kiel: Kiel Institute for the World Economy (IfW)

Classification and Topics

• Classification: Wirtschaft ; Monetary Policy ; Central Banks and Their Policies
• Subject: Empirical ; panel ; exchange ; rate ; inflation ; policy ; data ; success ; target ; filter ; time ; Fester Wechselkurs ; Inflation Targeting ; Wechselkurssystem ; Dauer ; Geldpolitik ; Welt

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Rose, Andrew K. ; Mihov, Ilian
• Event: Veröffentlichung
• (who): Kiel Institute for the World Economy (IfW)
• (where): Kiel
• (when): 2008

Further information

• DOI: doi:10.5018/economics-ejournal.ja.2008-13
• Handle: http://hdl.handle.net/10419/18026
• Last update: 10.03.2025, 11:43 AM CET