The performance of alternative monetary regimes
Author | : Laurence M. Ball |
Publisher | : |
Total Pages | : 75 |
Release | : 2010 |
ISBN-10 | : OCLC:695888599 |
ISBN-13 | : |
Rating | : 4/5 (99 Downloads) |
Download or read book The performance of alternative monetary regimes written by Laurence M. Ball and published by . This book was released on 2010 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper compares the performance of economies with different monetary regimes during the last quarter century. The conclusions include: (1) There is little evidence that inflation targeting affects performance in advanced economies, but some evidence of benefits in emerging economies; (2) Europe's monetary union has increased intra-European trade and capital flows, but divergence in national price levels may destabilize output in the future; (3) The "monetary analysis" of the European Central Bank has little effect on the ECB's policy decisions; and (4) Countries with hard currency pegs experience unusually severe recessions when capital flight occurs.