Inflation, Credibility, and the Role of the International Monetary Fund /

This paper argues that many developing countries may find it difficult to buttress disinflation programs purely through the adoption of traditional credibility-enhancing devices (such as monetary anchors and central bank independence), owing to 'technical problems' (for example, high insta...

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Bibliographische Detailangaben
1. Verfasser: Giannini, Curzio
Weitere Verfasser: Cottarelli, Carlo
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 1998.
Schriftenreihe:IMF Policy Discussion Papers; Policy Discussion Paper ; No. 1998/012
Online Zugang:Full text available on IMF
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100 1 |a Giannini, Curzio. 
245 1 0 |a Inflation, Credibility, and the Role of the International Monetary Fund /  |c Curzio Giannini, Carlo Cottarelli. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1998. 
300 |a 1 online resource (26 pages) 
490 1 |a IMF Policy Discussion Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper argues that many developing countries may find it difficult to buttress disinflation programs purely through the adoption of traditional credibility-enhancing devices (such as monetary anchors and central bank independence), owing to 'technical problems' (for example, high instability of money demand, increased capital mobility) and an insufficient endowment of credibility in the political institutions. In these cases, borrowing credibility from an outside agency like the International Monetary Fund may be the most effective solution. The paper discusses the different options that would allow the Fund to support programs aimed not at external adjustment-the Fund's traditional role-but at disinflation. 
538 |a Mode of access: Internet 
700 1 |a Cottarelli, Carlo. 
830 0 |a IMF Policy Discussion Papers; Policy Discussion Paper ;  |v No. 1998/012 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/003/1998/012/003.1998.issue-012-en.xml  |z IMF e-Library