Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen

Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen
Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper argues in favor of a new formal monetary policy framework for Yemen emphasizing a proactive and rule-based... READ MORE...

Publication date: January 2007
ISBN 9781451865707
$18.00

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