Monetary and Fiscal Coordination in Small Open Economies

Rupert Worrell

No 2000/056, IMF Working Papers from International Monetary Fund

Abstract: This paper is concerned with the design of institutional arrangements for low inflation in small open economies. In the real world of information asymmetries, uncertain expectations and changeable preferences, it is not enough to create an autonomous and publicly accountable central bank. In addition, the central bank and the treasury must work together on the design, implementation, monitoring and, when necessary, the revision of macroeconomic policy, and on providing the public with information on ongoing economic developments and interpretation of the macroeconomic strategy.

Keywords: WP; economic policy; government paper; financing requirement; central bank autonomy; debt management; Monetary Policy; Central Bank Independence; government undertaking; government financing; borrowing requirement; central bank authority; budgetary cycle; conscientious government; Exchange rates; Inflation; Institutional arrangements for revenue administration; Caribbean (search for similar items in EconPapers)
Pages: 28
Date: 2000-03-01
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Citations: View citations in EconPapers (4)

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