The relationship between exchange rates and inflation targeting revisited

For decades, the exchange rate was at the center of macroeconomic policy debates in emerging markets. Many countries used the nominal exchange rate to bring down inflation, –others—mostly in Latin America—used the exchange rate to implicitly tax the export sector. Currency crises were common and usu...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autor principal:	Edwards, Sebastián, 1953-
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	TIPO DE CAMBIO INFLACIÓN MACROECONOMÍA
Acceso en línea:	https://hdl.handle.net/20.500.12580/3726
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai-20.500.12580-3726
record_format	dspace
spelling	oai-20.500.12580-37262021-04-24T11:00:26Z The relationship between exchange rates and inflation targeting revisited Edwards, Sebastián, 1953- TIPO DE CAMBIO INFLACIÓN MACROECONOMÍA For decades, the exchange rate was at the center of macroeconomic policy debates in emerging markets. Many countries used the nominal exchange rate to bring down inflation, –others—mostly in Latin America—used the exchange rate to implicitly tax the export sector. Currency crises were common and usually resulted from acute real exchange rate overvaluation. In the 1990s, academics and policymakers debated the merits of alternative exchange rate regimes for emerging economies. Many authors drew on credibility-based theories to argue that developing and transition countries should have hard peg regimes, preferably currency boards or dollarization. One of the main arguments in favor of rigid exchange rate regimes was that emerging economies exhibited a fear of floating. After the currency crashes of the late 1990s and early 2000s, however, a growing number of emerging economies moved away from exchange rate rigidity and adopted a combination of flexible exchange rates and inflation targeting. 2019-11-01T00:03:37Z 2019-11-01T00:03:37Z 2007 Artículo 978-956-7421-28-2 https://hdl.handle.net/20.500.12580/3726 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. 373-413 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	TIPO DE CAMBIO INFLACIÓN MACROECONOMÍA
spellingShingle	TIPO DE CAMBIO INFLACIÓN MACROECONOMÍA Edwards, Sebastián, 1953- The relationship between exchange rates and inflation targeting revisited
description	For decades, the exchange rate was at the center of macroeconomic policy debates in emerging markets. Many countries used the nominal exchange rate to bring down inflation, –others—mostly in Latin America—used the exchange rate to implicitly tax the export sector. Currency crises were common and usually resulted from acute real exchange rate overvaluation. In the 1990s, academics and policymakers debated the merits of alternative exchange rate regimes for emerging economies. Many authors drew on credibility-based theories to argue that developing and transition countries should have hard peg regimes, preferably currency boards or dollarization. One of the main arguments in favor of rigid exchange rate regimes was that emerging economies exhibited a fear of floating. After the currency crashes of the late 1990s and early 2000s, however, a growing number of emerging economies moved away from exchange rate rigidity and adopted a combination of flexible exchange rates and inflation targeting.
format	Artículo
author	Edwards, Sebastián, 1953-
author_facet	Edwards, Sebastián, 1953-
author_sort	Edwards, Sebastián, 1953-
title	The relationship between exchange rates and inflation targeting revisited
title_short	The relationship between exchange rates and inflation targeting revisited
title_full	The relationship between exchange rates and inflation targeting revisited
title_fullStr	The relationship between exchange rates and inflation targeting revisited
title_full_unstemmed	The relationship between exchange rates and inflation targeting revisited
title_sort	relationship between exchange rates and inflation targeting revisited
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3726
work_keys_str_mv	AT edwardssebastian1953 therelationshipbetweenexchangeratesandinflationtargetingrevisited AT edwardssebastian1953 relationshipbetweenexchangeratesandinflationtargetingrevisited
_version_	1718346964650688512

The relationship between exchange rates and inflation targeting revisited

Ejemplares similares