Balance of Payments Crises Under Inflation Targeting

Balance of Payments Crises Under Inflation Targeting
This paper analyzes a small open economy model under inflation targeting. It shows why such a monetary regime is vulnerable to speculative attacks that take place over a short period rather than instantaneously. The speed at which the regime collapses, and the extent of reserve losses, are increasing in the central bank's explicit or implicit... READ MORE...

Publication date: April 2007
ISBN 9781451866483
$18.00

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