Nominal Anchors in the CIS [Elektronisk resurs] / Peter Keller.
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Keller, Peter. (författare)
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Keller, Peter. (författare)
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Richardson, Thomas J. (författare)
- ISBN 1451859058
- Publicerad: Washington, D.C. International Monetary Fund, 2003
- Engelska 1 online resource (42 p.)
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Serie: IMF Working Papers; Working Paper, 1018-5941 ; No. 03/179
- Relaterad länk:
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http://www.imfbookst... (IMF Book Store)
Sammanfattning
Ämnesord
Stäng
- Monetary policy has become increasingly important in the countries of the Commonwealth of Independent States (CIS) as fiscal adjustment and structural reforms have taken root. Inflation has been brought down to relatively low levels in almost all of these countries, raising the question of what should be the appropriate nominal anchor at this stage. Formally, almost all CIS countries have floating exchange rate regimes, yet in practice they manage their exchange rates very heavily, perhaps because of high levels of dollarization (i.e., they suffer from "fear of floating"). This paper explores the issues underlying the choice of a nominal anchor in CIS countries and seeks to assess whether the present mixed regime will prove durable.
Ämnesord
- Inflation Targeting (imf)
- Inflation (imf)
- Money Supply (imf)
- Open Economy Macroeconomics (imf)
- Price Stability (imf)
- Belarus (imf)
- Georgia (imf)
- Kazakhstan (imf)
- Kyrgyzstan (imf)
- Moldova, Republic of (imf)
- Ukraine (imf)
- Uzbekistan (imf)
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