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Exchange Rate Versus Price Level Targets
Memorandum from Oslo University, Department of Economics
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)
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Persistent link: http://EconPapers.repec.org/RePEc:hhs:osloec:1996_007
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Address: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway Contact information at EDIRC. Series data maintained by Rhiana Bergh-Seeley ().