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A New Taxonomy of Monetary Regimes, Ashok Bhundia, Mark Stone

Contributor
Abstract
This paper proposes a new taxonomy of monetary regimes defined by the choice and clarity of the nominal anchor. The regimes are as follows: (i) monetary nonautonomy, (ii) weak anchor, (iii) money anchor, (iv) exchange rate peg, (v) full-fledged inflation targeting, (vi) implicit price stability anchor, and (vii) inflation targeting lite. This taxonomy captures the commitment-discretion tradeoffs that lie at the heart of choosing a monetary regime. During the last 15 years the world has moved toward monetary regimes with less discretion. Empirical analysis suggests that country regime choices reflect the level of financial and economic development and recent inflation history
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. DEFINING A MONETARY REGIME""; ""III. THE MONETARY REGIME TAXONOMY AND COUNTRY CLASSIFICATIONS""; ""IV. INDICATORS OF MONETARY POLICY""; ""V. MONETARY REGIME TRENDS""; ""VI. CHOICE OF MONETARY REGIME""; ""VII. CONCLUSION""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (44 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781452735047

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