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|a HG3881.5.I58
|b W67 NO.07/54
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|a MAIN
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| 100 |
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|a Jácome, Luis Ignacio,
|e author.
|0 http://id.loc.gov/authorities/names/n90725149
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|a The quest for price stability in Central America and the Dominican Republic /
|c prepared by Luis I Jácome H. and Eric Parrado.
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|a Washington, D.C. :
|b International Monetary Fund,
|c ©2007.
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| 300 |
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|a 1 online resource (34 pages) :
|b illustrations
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| 336 |
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|a text
|b txt
|2 rdacontent
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|a computer
|b c
|2 rdamedia
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|a online resource
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|2 rdacarrier
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|a Includes bibliographical references (page 34).
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|a This paper addresses the question of why inflation has not yet converged to price stability in Central America and the Dominican Republic and is currently relatively high by Latin American standards. It suggests that despite the institutional strengthening of monetary policy, important flaws remain in most central banks, in particular a lack of a clear policy mandate and little political autonomy, which are adversely affecting the consistency of policy implementation. Empirical analysis reveals that all central banks raise interest rates to curtail inflation but only some of them increase it sufficiently to effectively tackle inflation pressures. It also shows that some central banks care simultaneously about exchange rate stability. The potential policy conflict arising from a dual central bank mandate and the unpredictable policy response is probably undermining markets' confidence in central banks' commitment to price stability, thereby perpetuating an inflation bias.
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|3 Use copy
|f Restrictions unspecified
|2 star
|5 MiAaHDL
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|a Electronic reproduction.
|b [Place of publication not identified] :
|c HathiTrust Digital Library,
|d 2010.
|5 MiAaHDL
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| 538 |
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|a 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.
|u http://purl.oclc.org/DLF/benchrepro0212
|5 MiAaHDL
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|a digitized
|c 2010
|h HathiTrust Digital Library
|l committed to preserve
|2 pda
|5 MiAaHDL
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|a Print version record.
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|a I. Introduction; Figures; 1. Inflation in Central America and the Western Hemisphere; 2. Inflation in Central America, Western Hemisphere, and Industrial Countries; II. The Institutional Framework for Monetary Policy in Central America; A.A Snapshot of Central Banks' Reforms and their Main Flaws; B. Legal Central Bank Independence; 3. Legal Central Banks Independence Before and After the Reform; 4. Legal Central Banks Independence: All Latin America; Tables; 1. Central Banks' Legal Independence as of 2005; 2. Inflation performance in Central America.
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|a III. Characterizing Monetary Policy: A Preliminary View5. Inflation and Legal Central Banks': 2000-2003; 6. Inflation and Legal Central Banks': 2004-2005; A. Formulation and Implementation of Monetary Policy in Central America; 3. Taxonomy of Monetary Policy Strategies; 7. Policy Rate versus Banks' Lending Rates; B.A First Look at the Data; IV. Empirical Regularities Supporting the Characterization of Monetary Policy; 4. Volatilities of Selected Macroeconomic Variables; A. Methodology and Data; B. Estimations; Interest rate reaction functions.
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| 505 |
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|a 5. Interest Rate Reaction Function of Central Banks, 1996-20051Exchange rate crawl reaction function; Money base reaction function; 6. Exchange Rate Crawl Reaction Function, 1996-20051; V. Concluding Remarks; 7. Central Banks' Money Reaction Function, 1996-2005; Appendices; I. Central America: Main Provisions of Central Bank Legislation as of 2005; II. Central America: Main Features of Monetary Policy; III: Policy Reaction Function; References.
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| 650 |
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|a Inflation (Finance)
|z Central America.
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| 650 |
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0 |
|a Inflation (Finance)
|z Central America
|x Econometric models.
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| 650 |
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0 |
|a Inflation (Finance)
|z Dominican Republic.
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| 650 |
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0 |
|a Inflation (Finance)
|z Dominican Republic
|x Econometric models.
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| 650 |
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0 |
|a Prices
|z Central America.
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| 650 |
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0 |
|a Prices
|z Central America
|x Econometric models.
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| 650 |
|
0 |
|a Prices
|z Dominican Republic.
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| 650 |
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0 |
|a Prices
|z Dominican Republic
|x Econometric models.
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| 650 |
|
6 |
|a Inflation
|z Amérique centrale.
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| 650 |
|
6 |
|a Inflation
|z République dominicaine.
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| 650 |
|
6 |
|a Prix
|z Amérique centrale.
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| 650 |
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6 |
|a Prix
|z République dominicaine.
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| 650 |
|
6 |
|a Inflation
|z Amérique centrale
|x Modèles économétriques.
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| 650 |
|
6 |
|a Inflation
|z République dominicaine
|x Modèles économétriques.
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| 650 |
|
6 |
|a Prix
|z Amérique centrale
|x Modèles économétriques.
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| 650 |
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6 |
|a Prix
|z République dominicaine
|x Modèles économétriques.
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| 650 |
|
7 |
|a Inflation (Finance)
|2 fast
|0 (OCoLC)fst00972450
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| 650 |
|
7 |
|a Inflation (Finance)
|x Econometric models.
|2 fast
|0 (OCoLC)fst00972453
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| 650 |
|
7 |
|a Prices.
|2 fast
|0 (OCoLC)fst01076207
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| 650 |
|
7 |
|a Prices
|x Econometric models.
|2 fast
|0 (OCoLC)fst01076211
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| 651 |
|
7 |
|a Central America.
|2 fast
|0 (OCoLC)fst01244535
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| 651 |
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|a Dominican Republic.
|2 fast
|0 (OCoLC)fst01206148
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| 655 |
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4 |
|a Electronic books.
|
| 700 |
1 |
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|a Parrado, Eric,
|e author.
|0 http://id.loc.gov/authorities/names/no2002023268
|
| 710 |
2 |
|
|a International Monetary Fund.
|b Monetary and Capital Markets Department.
|0 http://id.loc.gov/authorities/names/no2006113696
|
| 776 |
0 |
8 |
|i Print version:
|a Jácome, Luis Ignacio.
|t Quest for price stability in Central America and the Dominican Republic.
|d Washington, D.C. : International Monetary Fund, ©2007
|w (OCoLC)136934089
|
| 830 |
|
0 |
|a IMF working paper ;
|v WP/07/54.
|0 http://id.loc.gov/authorities/names/no89010263
|
| 856 |
4 |
0 |
|u http://elibrary.imf.org/view/journals/001/2007/054/001.2007.issue-054-en.xml
|y INTERNATIONAL MONETARY FUND
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| 928 |
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|
|t Library of Congress classification
|a HG3881.5.I58W67 NO.07/54
|l Online
|c UC-FullText
|u http://elibrary.imf.org/view/journals/001/2007/054/001.2007.issue-054-en.xml
|z INTERNATIONAL MONETARY FUND
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|i 13653492
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