Tunisia Monetary Policy Since the Arab Spring : The Fall of the Exchange Rate Anchor and Rise of Inflation Targeting /

In this paper, we argue that inflation targeting could be the future of Tunisia's monetary policy. Monetary targeting has proven to be ineffective due to the composition of reserve money, structural liquidity deficit, and higher instability of the money multiplier after 2010. Exchange rate targ...

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Bibliografski detalji
Glavni autor: End, Nicolas
Daljnji autori: El Hamiani Khatat, Mariam, Kolsi, Rym
Format: Žurnal
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2020.
Serija:IMF Working Papers; Working Paper ; No. 2020/167
Online pristup:Full text available on IMF
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100 1 |a End, Nicolas. 
245 1 0 |a Tunisia Monetary Policy Since the Arab Spring :   |b The Fall of the Exchange Rate Anchor and Rise of Inflation Targeting /  |c Nicolas End, Mariam El Hamiani Khatat, Rym Kolsi. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2020. 
300 |a 1 online resource (41 pages) 
490 1 |a IMF Working 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 In this paper, we argue that inflation targeting could be the future of Tunisia's monetary policy. Monetary targeting has proven to be ineffective due to the composition of reserve money, structural liquidity deficit, and higher instability of the money multiplier after 2010. Exchange rate targeting is no longer feasible due to the level of international reserves, current account deficit, and inflation differentials with main trading partners. The Central Bank of Tunisia has already made important progress toward inflation targeting. The paper evidences the existence of increasingly effective interest rate transmission as well as the changing exchange rate passthrough to inflation with the gradual move toward further exchange rate flexibility. 
538 |a Mode of access: Internet 
700 1 |a El Hamiani Khatat, Mariam. 
700 1 |a Kolsi, Rym. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2020/167 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2020/167/001.2020.issue-167-en.xml  |z IMF e-Library