Arbeitspapier
Flexible inflation targets, forex interventions and exchange rate volatility in emerging countries
Emerging economies with inflation targets (IT) face a dilemma between fulflling the theoretical conditions of "strict IT", which implies a fully flexible exchange rate, or applying a "flexible IT", which entails a de facto managed floating exchange rate with forex interventions to moderate exchange rate volatility. Using a panel data model for 37 countries we find that, although IT lead to higher exchange rate instability than alternative regimes, forex interventions in some IT countries have been more effective in reducing volatility than in non-IT countries, which may justify the use of "flexible IT" by policymakers.
- ISBN
-
978-952-462-704-7
- Sprache
-
Englisch
- Erschienen in
-
Series: BOFIT Discussion Papers ; No. 9/2011
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
Monetary Policy
Central Banks and Their Policies
Foreign Exchange
- Thema
-
Inflation targeting
Exchange rate volatility
Foreign exchange interventions
Emerging economies
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Berganza, Juan Carlos
Broto, Carmen
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland, Institute for Economies in Transition (BOFIT)
- (wo)
-
Helsinki
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Berganza, Juan Carlos
- Broto, Carmen
- Bank of Finland, Institute for Economies in Transition (BOFIT)
Entstanden
- 2011
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