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02104cas a2200277 a 4500 |
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|c 5.00 USD
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|z 9781451849899
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Zanello, Alessandro.
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|a Re-Establishing Credible Nominal Anchors After a Financial Crisis :
|b A Review of Recent Experience /
|c Alessandro Zanello, Mark Stone, Christopher Jarvis, Andrew Berg.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2003.
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| 300 |
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|a 1 online resource (45 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper studies the question of how to achieve monetary policy credibility and price stability after a financial crisis. We draw stylized facts and conclusions from ten recent cases: Brazil (1999); Bulgaria (1997); Ecuador (2000); Indonesia (1997); Korea (1997); Malaysia (1997); Mexico (1994), Russia (1998); Thailand (1997); and Turkey (2001). Among our conclusions, highlights include: (i) monetary policy alone cannot stabilize; (ii) floats bring nominal stability quickly in countries with low pre-crisis inflation and hard pegs have been at least narrowly successful for countries in deeper disarray; (iii) in floats, early and determined tightening brings nominal stability and does not appear more costly for output; (iv) monetary aggregate targeting rarely serves as a coherent framework for floats; informal or full-fledged inflation targeting offers more promise.
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|a Mode of access: Internet
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|a Berg, Andrew.
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|a Jarvis, Christopher.
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|a Stone, Mark.
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|a IMF Working Papers; Working Paper ;
|v No. 2003/076
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2003/076/001.2003.issue-076-en.xml
|z IMF e-Library
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