Monetary rules for emerging market economies /

Monetary rules for emerging market economies /

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Bibliographic Details
Author / Creator:	Ghironi, Fabio.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2002.
Description:	1 online resource (40 pages)
Language:	English
Series:	IMF working paper ; WP/02/34 IMF working paper ; WP/02/34.
Subject:	Currency boards -- Developing countries -- Econometric models. Inflation (Finance) -- Developing countries -- Econometric models. Monetary policy -- Developing countries -- Econometric models. Foreign exchange -- Developing countries -- Econometric models. Country risk -- Developing countries -- Econometric models. Currency boards -- Econometric models. Inflation (Finance) -- Econometric models. Monetary policy -- Econometric models. Foreign exchange -- Econometric models. Country risk -- Econometric models. Country risk -- Econometric models. Foreign exchange -- Econometric models. Inflation (Finance) -- Econometric models. Monetary policy -- Econometric models. Developing countries.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12496263

Hidden Bibliographic Details
Other authors / contributors:	Rebucci, Alessandro. International Monetary Fund. Policy Development and Review Department.
ISBN:	1451892780 9781451892789 1281606731 9781281606730
Notes:	Includes bibliographical references (pages 39-40). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	We compare the performance of a currency board, inflation targeting, and dollarization in a small, open developing economy with a liberalized capital account. We focus on the transmission of shocks to currency and country risk premia and on the role of fluctuations in premia in the propagation of other shocks. We calibrate our model on Argentina. The framework matches the second moments of key variables well. Welfare analysis suggests that dollarization is preferable to alternative regimes because it removes currency premium volatility. However, a currency board can match dollarization on welfare grounds if the central bank holds a sufficiently large stock of foreign reserves.
Other form:	Print version: Ghironi, Fabio. Monetary rules for emerging market economies. [Washington, D.C.] : International Monetary Fund, ©2002
Standard no.:	10.5089/9781451892789.001

Description
Summary:	We compare the performance of a currency board, inflation targeting, and dollarization in a small, open developing economy with a liberalized capital account. We focus on the transmission of shocks to currency and country risk premia and on the role of fluctuations in premia in the propagation of other shocks. We calibrate our model on Argentina. The framework matches the second moments of key variables well. Welfare analysis suggests that dollarization is preferable to alternative regimes because it removes currency premium volatility. However, a currency board can match dollarization on welfare grounds if the central bank holds a sufficiently large stock of foreign reserves.
Physical Description:	1 online resource (40 pages)
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 39-40).
ISBN:	1451892780 9781451892789 1281606731 9781281606730