Target zones and wealth effects: Current account implications of alternative policy assignments

Patrizio Tirelli

Open Economies Review, 1991, vol. 2, issue 1, 65-82

Abstract: This paper evaluates the current-account implications of coordinated disinflationary policy in a two-country framework, when fiscal policy is assigned to control inflation and monetary policy is used to hold down the exchange rate at its “target zone” level. The performance of an alternative regime, where monetary policy controls inflation and fiscal policy is assigned to control the current account is also assessed. Copyright Kluwer Academic Publishers 1991

Keywords: exchange rate regimes; policy coordination; current-account equilibrium; target zones (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/BF01886135

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