Monetary policy under inflation targeting: an introduction

With the end of intermediate exchange rate regimes, countries are either abandoning domestic monetary policy (by choosing super-hard pegs or relinquishing their national currencies altogether) or strengthening independent monetary policymaking (by adopting floating exchange rates, of either the clea...

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Autores principales:	Mishkin, Frederic S., Schmidt-Hebbel, Klaus
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA MONETARIA INFLACIÓN TIPO DE CAMBIO
Acceso en línea:	https://hdl.handle.net/20.500.12580/3717
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spelling	oai-20.500.12580-37172021-04-24T10:59:30Z Monetary policy under inflation targeting: an introduction Mishkin, Frederic S. Schmidt-Hebbel, Klaus POLÍTICA MONETARIA INFLACIÓN TIPO DE CAMBIO With the end of intermediate exchange rate regimes, countries are either abandoning domestic monetary policy (by choosing super-hard pegs or relinquishing their national currencies altogether) or strengthening independent monetary policymaking (by adopting floating exchange rates, of either the clean or dirty variety) (Fischer, 2001, Calvo and Mishkin, 2003). Among monetary regimes, inflation targeting has become the natural complement of flexible exchange rate regimes. Many countries—which differ in size, structural features, and development level—have selected inflation- targeting-cum-floating as their preferred framework for pursuing a more independent and effective monetary policy. This choice is often made by instrument-independent central banks in open economies with a history of inflation, which need to establish a credible monetary anchor to promote price stability (Mishkin and Schmidt-Hebbel, 2002). 2019-11-01T00:03:40Z 2019-11-01T00:03:40Z 2007 Artículo 978-956-7421-28-2 https://hdl.handle.net/20.500.12580/3717 eng Series on Central Banking, Analysis, and Economic Policies, no. 11 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 01-22 application/pdf Banco Central de Chile
institution	Banco Mundial
collection	Banco Mundial
language	eng
topic	POLÍTICA MONETARIA INFLACIÓN TIPO DE CAMBIO
spellingShingle	POLÍTICA MONETARIA INFLACIÓN TIPO DE CAMBIO Mishkin, Frederic S. Schmidt-Hebbel, Klaus Monetary policy under inflation targeting: an introduction
description	With the end of intermediate exchange rate regimes, countries are either abandoning domestic monetary policy (by choosing super-hard pegs or relinquishing their national currencies altogether) or strengthening independent monetary policymaking (by adopting floating exchange rates, of either the clean or dirty variety) (Fischer, 2001, Calvo and Mishkin, 2003). Among monetary regimes, inflation targeting has become the natural complement of flexible exchange rate regimes. Many countries—which differ in size, structural features, and development level—have selected inflation- targeting-cum-floating as their preferred framework for pursuing a more independent and effective monetary policy. This choice is often made by instrument-independent central banks in open economies with a history of inflation, which need to establish a credible monetary anchor to promote price stability (Mishkin and Schmidt-Hebbel, 2002).
format	Artículo
author	Mishkin, Frederic S. Schmidt-Hebbel, Klaus
author_facet	Mishkin, Frederic S. Schmidt-Hebbel, Klaus
author_sort	Mishkin, Frederic S.
title	Monetary policy under inflation targeting: an introduction
title_short	Monetary policy under inflation targeting: an introduction
title_full	Monetary policy under inflation targeting: an introduction
title_fullStr	Monetary policy under inflation targeting: an introduction
title_full_unstemmed	Monetary policy under inflation targeting: an introduction
title_sort	monetary policy under inflation targeting: an introduction
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3717
work_keys_str_mv	AT mishkinfrederics monetarypolicyunderinflationtargetinganintroduction AT schmidthebbelklaus monetarypolicyunderinflationtargetinganintroduction
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Monetary policy under inflation targeting: an introduction

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