Monetary policy in Asia: approaches and implementation

Bank for International Settlements

No 31 in BIS Papers from Bank for International Settlements

Abstract: The papers collected in this volume were written for a conference held at the Hong Kong Monetary Authority in November 2005. It was organised jointly by the BIS Representative Office for Asia and the Pacific in Hong Kong SAR and the Hong Kong Institute for Monetary Research. The objective of the conference was to take stock of the current practice of monetary policy in a broad cross section of Asian economies. Papers on China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam were presented and discussed at the conference and subsequently revised by the authors. In addition, the experience of a "mature" inflation targeter, the Reserve Bank of Australia, was presented. The result is an up-to-date account and assessment of the strategies followed by the respective central banks and monetary authorities.

Date: 2006 Written 2006-12
ISBN: 92-9131-729-2
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Chapters in this book:

Introductory remarks to "Monetary policy in Asia: approaches and implementation" , pp 1-2

Peter Pang

An Australian perspective on inflation targeting, communication and transparency , pp 3-24

Malcolm Edey

Monetary policy implementation in China , pp 25-39

Marvin Goodfriend and Eswar Prasad

Monetary policy regimes and macroeconomic outcomes: Hong Kong and Singapore , pp 40-64

Stefan Gerlach and Petra Gerlach-Kristen

Comments on “Monetary policy regimes and macroeconomic outcomes: Hong Kong and Singapore” by Stefan Gerlach and Petra Gerlach-Kristen , pp 65-70

Hoe Ee KHOR

Comments on “Monetary policy regimes and macroeconomic outcomes: Hong Kong and Singapore” by Stefan Gerlach and Petra Gerlach-Kristen , pp 71-73

Wensheng Peng

Monetary policy approaches in India , pp 74-102

Kaushik Bhattacharya

Comments on: “Monetary policy approaches in India” by Kaushik Bhattacharya , pp 103-104

Dominique Dwor-Frécaut

Japanese monetary policy: 1998-2005 and beyond , pp 105-132

Takatoshi Ito

Comments on: “Japanese monetary policy: 1998-2005 and beyond” by Takatoshi Ito , pp 133-136

Peter John Morgan

Comments on: “Japanese monetary policy: 1998-2005 and beyond” by Takatoshi Ito , pp 137-139

Masaru Yoshitomi

Inflation targeting in Korea: a model of success? , pp 140-164

Soyoung Kim and Yung Chul Park

Comments on: “Inflation targeting in Korea: a model of success?” by Soyoung Kim and Yung Chul Park , pp 165-167

Tim Condon

Comments on: “Inflation targeting in Korea: a model of success?” by Soyoung Kim and Yung Chul Park , pp 168-171

Yang Woo Kim

Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence , pp 172-198

Robert Neil McCauley

Comments on “Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence” by Robert Neil McCauley , pp 199-203

Suchada Kirakul

Comments on: “Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence” by Robert Neil McCauley , pp 204-206

Sukudhew Singh

Monetary policy approaches and implementation in Asia: the Philippines and Indonesia , pp 207-226

Roberto S. Mariano and Delano Segundo Villanueva

Comment on: “Monetary policy approaches and implementation in Asia: the Philippines and Indonesia” by Roberto S Mariano and Delano P Villanueva , pp 227-231

Akhis R Hutabarat

Monetary policy in Vietnam: the case of a transition country , pp 232-252

Ulrich Camen

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