Searching for Nominal Anchors in Shock-Prone Economies in the 1990s: Inflation Targets and Exchange Rate Bands

L. Leiderman and G. Bufman

Working Papers from Tel Aviv

Abstract: We do not intent here to explore the choice of nominal anchors in the context of major inflation-stabilization programmes, as this topics has been covered, to a large extent, in proceding literature. Instead, we focus on cases of moderate inflation, such as Chile, Colombia, Israel and Mexico. In these countries despite a serious disinflation and a market adjustment in fiscal and monetary fundamentals , there is still a moderate inflation rate differential vis-a-vis trading partners, and there is a policy goal gradually to reduce the differential in the near future.

Keywords: EXCHANGE RATE; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: E52 E64 (search for similar items in EconPapers)
Pages: 123 pages
Date: 1996
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:teavfo:15-96

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