Explicit and Implicit Targets in Open Economies

Explicit and Implicit Targets in Open Economies
Under a flexible inflation targeting regime, should policymakers avoid any reaction to movements in the foreign exchange market? Using data for six advanced open economies explicitly targeting inflation, the paper examines empirically whether real exchange rate disequilibria systematically affect the conduct of monetary policy. Estimates... READ MORE...

Publication date: September 2005
ISBN 9781451861952
$15.00

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