Explicit and Implicit Targets in Open Economies
Abstract: Under a flexible inflation targeting regime, should policymakers avoid any reaction to movements in the foreign exchange market? Using data for six advanced open economies explicitly targeting inflation, the paper examines empirically whether real exchange rate disequilibria systematically affect the conduct of monetary policy. Estimates indicate that monetary policy responses in inflation–targeting, open economies have changed significantly, as the institutional framework for the conduct of monetary policy has evolved. In particular, an explicit target for core inflation and a greater use of the expectation channel of monetary policy appear to be key features of the newest policy framework. In this context, central banks are unlikely to react to regular fluctuations in the exchange rate
- Standort
-
Deutsche Nationalbibliothek Frankfurt am Main
- Umfang
-
Online-Ressource
- Sprache
-
Englisch
- Anmerkungen
-
Postprint
begutachtet (peer reviewed)
In: Applied Economics ; 40 (2008) 8 ; 969-980
- Klassifikation
-
Wirtschaft
- DOI
-
10.1080/00036840600749912
- URN
-
urn:nbn:de:0168-ssoar-241011
- Rechteinformation
-
Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Letzte Aktualisierung
-
25.03.2025, 13:49 MEZ
Datenpartner
Deutsche Nationalbibliothek. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Beteiligte
Entstanden
- 2008
Ähnliche Objekte (12)
Explicit and Implicit Targets in Open Economies
Explicit Evidence on an Implicit Contract
Explicit Evidence of an Implicit Contract
Explicit Evidence on an Implicit Contract
Measuring Implicit and Explicit Sequence Learning
Explicit evidence of an implicit contract
Knowledge annotation: making implicit knowledge explicit
Making the implicit explicit: A look inside the implicit discount rate
Making the implicit explicit : a look inside the implicit discount rate
Making the implicit explicit: A look inside the implicit discount rate
The Projection of Implicit and Explicit Goals
Implicit Versus Explicit Rationing of Health Services
Explicit and Implicit Targets in Open Economies
Explicit Evidence on an Implicit Contract
Explicit Evidence of an Implicit Contract
Explicit Evidence on an Implicit Contract
Measuring Implicit and Explicit Sequence Learning
Explicit evidence of an implicit contract
Knowledge annotation: making implicit knowledge explicit
Making the implicit explicit: A look inside the implicit discount rate
Making the implicit explicit : a look inside the implicit discount rate
Making the implicit explicit: A look inside the implicit discount rate
The Projection of Implicit and Explicit Goals
Implicit Versus Explicit Rationing of Health Services
Explicit and Implicit Targets in Open Economies
Explicit Evidence on an Implicit Contract
Explicit Evidence of an Implicit Contract
Explicit Evidence on an Implicit Contract
Measuring Implicit and Explicit Sequence Learning
Explicit evidence of an implicit contract
Knowledge annotation: making implicit knowledge explicit
Making the implicit explicit: A look inside the implicit discount rate
Making the implicit explicit : a look inside the implicit discount rate
Making the implicit explicit: A look inside the implicit discount rate
The Projection of Implicit and Explicit Goals