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:
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

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520 |a 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. 
650 0 |a Currency boards  |z Developing countries  |x Econometric models. 
650 0 |a Inflation (Finance)  |z Developing countries  |x Econometric models. 
650 0 |a Monetary policy  |z Developing countries  |x Econometric models. 
650 0 |a Foreign exchange  |z Developing countries  |x Econometric models. 
650 0 |a Country risk  |z Developing countries  |x Econometric models. 
650 0 |a Currency boards  |x Econometric models. 
650 0 |a Inflation (Finance)  |x Econometric models. 
650 0 |a Monetary policy  |x Econometric models. 
650 0 |a Foreign exchange  |x Econometric models. 
650 0 |a Country risk  |x Econometric models. 
650 6 |a Currency boards  |x Modèles économétriques. 
650 6 |a Inflation  |x Modèles économétriques. 
650 6 |a Politique monétaire  |x Modèles économétriques. 
650 6 |a Change  |x Modèles économétriques. 
650 6 |a Risque pays  |x Modèles économétriques. 
650 7 |a Country risk  |x Econometric models.  |2 fast  |0 (OCoLC)fst00881450 
650 7 |a Foreign exchange  |x Econometric models.  |2 fast  |0 (OCoLC)fst00931774 
650 7 |a Inflation (Finance)  |x Econometric models.  |2 fast  |0 (OCoLC)fst00972453 
650 7 |a Monetary policy  |x Econometric models.  |2 fast  |0 (OCoLC)fst01025234 
651 7 |a Developing countries.  |2 fast  |0 (OCoLC)fst01242969 
655 4 |a Electronic books. 
700 1 |a Rebucci, Alessandro. 
710 2 |a International Monetary Fund.  |b Policy Development and Review Department.  |0 http://id.loc.gov/authorities/names/no92024196 
776 0 8 |i Print version:  |a Ghironi, Fabio.  |t Monetary rules for emerging market economies.  |d [Washington, D.C.] : International Monetary Fund, ©2002  |w (OCoLC)49323988 
830 0 |a IMF working paper ;  |v WP/02/34.  |0 http://id.loc.gov/authorities/names/no89010263 
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