Perspectives on Inflation Targeting, Financial Stability and the Global Crisis

40 Pages Posted: 3 May 2010

See all articles by Mar Gudmundsson

Mar Gudmundsson

Central Bank of Iceland

Camilo E. Tovar

International Monetary Fund

Philip Turner

University of Basel; National Institute for Economic and Social Research, London

Jose de Gregorio

Central Bank of Chile; Universidad de Chile; National Bureau of Economic Research (NBER)

Guillermo A. Calvo

Columbia University - School of International & Public Affairs (SIPA); National Bureau of Economic Research (NBER)

Michael P. Dooley

University of California at Santa Cruz; National Bureau of Economic Research (NBER)

Vittorio Corbo

affiliation not provided to SSRN

Date Written: March 2010

Abstract

This BIS Paper discusses lessons provided by the global financial crisis for inflation targeting and financial stability. It contains selected presentations from the BIS-sponsored sessions at two Latin American and Caribbean Economic Association (LACEA) annual meetings: November 2008, in Rio de Janeiro, and October 2009, in Buenos Aires. The 2008 papers in this volume are by José de Gregorio, Governor of the Central Bank of Chile, and Guillermo Calvo, professor of economics at Columbia University; the 2009 presentations are by Vittorio Corbo, former Governor of the Central Bank of Chile, and Michael Dooley, professor of economics at the University of California, Santa Cruz.

Keywords: inflation targeting, financial stability, global financial crisis, bank regulation, foreign reserves, BIS, LACEA

JEL Classification: E42, E52, E58, F31, F41, G28

Suggested Citation

Gudmundsson, Mar and Tovar, Camilo E. and Turner, Philip and de Gregorio, Jose and Calvo, Guillermo A. and Dooley, Michael P. and Corbo, Vittorio, Perspectives on Inflation Targeting, Financial Stability and the Global Crisis (March 2010). BIS Paper No. 51, Available at SSRN: https://ssrn.com/abstract=1592891

Mar Gudmundsson

Central Bank of Iceland ( email )

Iceland

Camilo E. Tovar (Contact Author)

International Monetary Fund ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

HOME PAGE: http://blog-imfdirect.imf.org/bloggers/camilo-e-tovar/

Philip Turner

University of Basel ( email )

Petersplatz 1
CH-4001 Basel
Switzerland

National Institute for Economic and Social Research, London ( email )

2 Dean Trench St
London, SW1P 3HE
United Kingdom

Jose De Gregorio

Central Bank of Chile ( email )

Agustinas 1180
Santiago
Chile

Universidad de Chile ( email )

Ministry of Finance Teatinos l20 - Piso l2
Santiago
Chile

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Guillermo A. Calvo

Columbia University - School of International & Public Affairs (SIPA) ( email )

420 West 118th Street
New York, NY 10027
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Michael P. Dooley

University of California at Santa Cruz ( email )

Santa Cruz, CA 95064
United States
510-459-3662 (Phone)
510-459-5900 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Vittorio Corbo

affiliation not provided to SSRN

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