Non-discretionary monetary policy: The answer for transition economies?

Elham Mafi-Kreft and Steven F. Kreft

No B 22-2004, ZEI Working Papers from University of Bonn, ZEI - Center for European Integration Studies

Abstract: It is a well-established fact that monetary institutions help shape the macroeconomic environment of countries by stabilizing prices. In the early 1990s, transition economies had the opportunity to rearrange their monetary institutions to better achieve low levels of inflation. Those economies had several prominent monetary arrangements to choose from, such as sovereign central banks or currency boards. This paper surveys the monetary institutions currently in place in several transition economies and compares them based on their ability to control inflation. More specifically, we intend to test whether the transition economies have better inflation performance when they import the monetary policy of a credible central bank.

Keywords: Transition economies; currency board; European monetary union (search for similar items in EconPapers)
Date: 2004
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/39468/1/396489567.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:zeiwps:b222004

Access Statistics for this paper

More papers in ZEI Working Papers from University of Bonn, ZEI - Center for European Integration Studies Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().