The Dynamic Effects of Exchange Rate and Price Stabilization Targets

Øistein Røisland

Memorandum from Oslo University, Department of Economics

Abstract: This paper compares exchange rate targets with price stabilization targets in a small open economy under perfect and imperfect cridibility. Under nominal exchange rate targeting, output is affected by both demand shocks, supply schocks, and foreign exchange shocks.

Keywords: MONETARY POLICY; INFLATION; EXCHANGE RATE (search for similar items in EconPapers)
JEL-codes: E31 E50 E52 F31 (search for similar items in EconPapers)
Pages: 25 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:osloec:1996_009

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