Exchange Rate Versus Price Level Targets

Asbjorn Rodseth

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 E52 F4 (search for similar items in EconPapers)
Pages: 24 pages
Date: 1996
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:hhs:osloec:1996_007

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