The Performance of Alternative Monetary Regimes

Laurence Ball

No 16124, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper compares the performance of economies with different monetary regimes during the last quarter century. The conclusions include: (1) There is little evidence that inflation targeting affects performance in advanced economies, but some evidence of benefits in emerging economies; (2) Europe's monetary union has increased intra-European trade and capital flows, but divergence in national price levels may destabilize output in the future; (3) The "monetary analysis" of the European Central Bank has little effect on the ECB's policy decisions; and (4) Countries with hard currency pegs experience unusually severe recessions when capital flight occurs.

JEL-codes: E42 E52 E58 (search for similar items in EconPapers)
Date: 2010-06
Note: ME
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (77)

Published as “The Performance of Alternative Monetary Regimes,” in Friedman and Woodford (eds.), Handbook of Monetary Economics , North Holland Press, 2011.

Downloads: (external link)
http://www.nber.org/papers/w16124.pdf (application/pdf)

Related works:
Chapter: The Performance of Alternative Monetary Regimes (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:16124

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w16124

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().