Interest Rate Targeting in a Small Open Economy : The Predetermined Exchange Rates Case /

Interest Rate Targeting in a Small Open Economy : The Predetermined Exchange Rates Case /

An important hurdle in analyzing interest rate targeting is that standard models usually lead to price level or inflation rate indeterminacy. This paper develops a simple framework in which such problems do not arise because the bonds whose interest rate is controlled provide liquidity services. Thi...

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Dettagli Bibliografici
Autore principale:	Calvo, Guillermo
Altri autori:	Vegh Gramont, Carlos
Natura:	Periodico
Lingua:	English
Pubblicazione:	Washington, D.C. : International Monetary Fund, 1990.
Serie:	IMF Working Papers; Working Paper ; No. 1990/021
Accesso online:	Full text available on IMF

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