| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18570 |
| 来源ID | Working Paper 18570 |
| Is Inflation Targeting Still On Target? | |
| Luis Felipe Céspedes; Roberto Chang; Andrés Velasco | |
| 发表日期 | 2012-11-29 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper reviews the recent experience of a half-dozen Latin American inflation-targeting (IT) nations. We document repeated and large deviations from the standard IT framework: exchange market interventions have been lasting and widespread; the real exchange rate has often become a target of policy, though this target is seldom made explicit; a range of other non-conventional policy tools, especially changes in reserve requirements but occasionally also taxes or restrictions on international capital movements, also came into common use. As in developed nations, during the 2008-2009 crisis issues of liquidity provision took center stage. We also attempt a first evaluation of the emerging modified framework of monetary policy. In general terms, the new approach seems to have been effective, at the very least since the region weathered the crisis reasonably well. But also, and perhaps more importantly, many questions remain about the desirability of non-conventional monetary policies in Latin America. |
| 主题 | Macroeconomics ; Monetary Policy ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w18570 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576245 |
| 推荐引用方式 GB/T 7714 | Luis Felipe Céspedes,Roberto Chang,Andrés Velasco. Is Inflation Targeting Still On Target?. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18570.pdf（1605KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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