Monetary Policy Strategies for Emerging Market Countries: Lessons from Latin America
Frederic S. Mishkin
Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)
Miguel A. Savastano
International Monetary Fund (IMF) - Research Department
Comparative Economic Studies, Vol. 44, Issue 2-3, pp. 45-82, 2002
The paper examines three possible monetary policy strategies for emerging market countries — hard pegs, monetary targeting and inflation targeting — by conducting case studies of the recent Latin America experience. The track record of monetary policy in these countries provides useful clues as to which of the three strategies might be best suited to conditions in different emerging market countries.
Number of Pages in PDF File: 38Accepted Paper Series
Date posted: September 8, 2010
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