This Article Full Text (PDF) References Alert me when this article is cited Alert me if a correction is posted Services Email this article to a friend Similar articles in this journal Alert me to new issues of the journal Add to Saved Citations Download to citation manager Request Permissions Request Reprints Add to My Marked Citations Citing Articles Citing Articles via Google Scholar Citing Articles via Scopus Google Scholar Articles by Eichengreen, B. Search for Related Content Social Bookmarking                         What's this?

International Monetary Options for the Twenty-First Century

University of California, Berkeley

The crises of the 1990s convinced many observers that intermediate exchange rate arrangements are fragile and crisis prone. But calling for emerging markets to abandon the exchange rate as an anchor for policy compels those issuing the call to offer an alternative. In this article, the author assesses whether inflation targeting is a viable alternative for emerging markets. He focuses on distinctive characteristics of the policy environment that bear on its feasibility : these include the speed of pass-through, the difficulty of forecasting inflation, imperfect credibility, and liability dollarization. The author concludes that none of these complications renders inflation targeting infeasible, although a number render it more complex.

The ANNALS of the American Academy of Political and Social Science, Vol. 579, No. 1, 11-25 (2002)
DOI: 10.1177/000271620257900102


CiteULike    Complore    Connotea    Del.icio.us    Digg    Reddit    Technorati    Twitter    What's this?