Exchange Rate Versus Price Level Targets

Asbjorn Rodseth

No 07/1996, Memorandum from Oslo University, Department of Economics

Abstract: Two alternative targets for monetary policy are considered: Stability of the price level (or the rate of inflation) and stability of the exchange rate. The interest rate is regarded as the main instrument of the central bank.

Keywords: MONETARY POLICY; INFLATION; PRICES (search for similar items in EconPapers)
JEL-codes: E5 F4 E52 (search for similar items in EconPapers)
Date: 1996
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