Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Performance of Alternative Monetary Regimes

Contents:

Author Info

  • Laurence M. Ball

Abstract

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.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.nber.org/papers/w16124.pdf
Download Restriction: no

Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 16124.

as in new window
Length:
Date of creation: Jun 2010
Date of revision:
Publication status: published as “The Performance of Alternative Monetary Regimes,” in Friedman and Woodford (eds.), Handbook of Monetary Economics , North Holland Press, 2011.
Handle: RePEc:nbr:nberwo:16124

Note: ME
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Phone: 617-868-3900
Email:
Web page: http://www.nber.org
More information through EDIRC

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Andrew K. Rose, 1999. "One Money, One Market: Estimating the Effect of Common Currencies on Trade," NBER Working Papers 7432, National Bureau of Economic Research, Inc.
  2. Andrew T. Levin & Fabio M. Natalucci & Jeremy M. Piger, 2004. "The macroeconomic effects of inflation targeting," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Jul, pages 51-80.
  3. Vega, Marco & Winkelried, Diego, 2004. "Inflation Targeting and Inflation Behavior: A Successful Story?," MPRA Paper 838, University Library of Munich, Germany.
  4. Frankel, Jeffrey, 2008. "The Estimated Effects of the Euro on Trade: Why Are They Below Historical Effects of Monetary Unions Among Smaller Countries?," Working Paper Series, Harvard University, John F. Kennedy School of Government rwp08-076, Harvard University, John F. Kennedy School of Government.
  5. Frederic Mishkin & Klaus Schmidt-Hebbel, 2006. "Does Inflation Targeting Make a Difference?," Working Papers Central Bank of Chile, Central Bank of Chile 404, Central Bank of Chile.
  6. Michael J. Dueker & Andreas M. Fischer, 2006. "Do inflation targeters outperform non-targeters?," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Sep, pages 431-450.
  7. Neumann, Manfred J. M. & von Hagen, Jürgen, 2002. "Does inflation targeting matter?," ZEI Working Papers, ZEI - Center for European Integration Studies, University of Bonn B 01-2002, ZEI - Center for European Integration Studies, University of Bonn.
  8. Goncalves, Carlos Eduardo S. & Salles, Joao M., 2008. "Inflation targeting in emerging economies: What do the data say?," Journal of Development Economics, Elsevier, Elsevier, vol. 85(1-2), pages 312-318, February.
  9. Baldwin, Richard E., 2006. "The euro’s trade effects," Working Paper Series, European Central Bank 0594, European Central Bank.
  10. Eduardo Levy Yeyati & Augusto de la Torre & Sergio Schmukler, 2003. "Living and Dying with Hard Pegs: The Rise and Fall of Argentina´s Currency Board," Business School Working Papers, Universidad Torcuato Di Tella catorce, Universidad Torcuato Di Tella.
  11. repec:nbr:nberwo:12876 is not listed on IDEAS
  12. Lin, Shu & Ye, Haichun, 2007. "Does inflation targeting really make a difference? Evaluating the treatment effect of inflation targeting in seven industrial countries," Journal of Monetary Economics, Elsevier, Elsevier, vol. 54(8), pages 2521-2533, November.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Miguel Urrutia & Marc Hofstetter & Franz Hamann, 2014. "Inflation Targeting in Colombia, 2002-2012," IDB Publications 84274, Inter-American Development Bank.
  2. de Carvalho Filho Irineu E, 2011. "28 Months Later: How Inflation Targeters Outperformed Their Peers in the Great Recession," The B.E. Journal of Macroeconomics, De Gruyter, De Gruyter, vol. 11(1), pages 1-46, July.
  3. Laurence Ball & Nicolás De Roux & Marc Hofstetter, 2011. "Unemployment in Latin America and the Caribbean," DOCUMENTOS CEDE, UNIVERSIDAD DE LOS ANDES-CEDE 008917, UNIVERSIDAD DE LOS ANDES-CEDE.
  4. Zied Ftiti & Walid Hichri, 2014. "The Price Stability Under Inflation Targeting Regime : An Analysis With a New Intermediate Approach," Working Papers, Department of Research, Ipag Business School 2014-099, Department of Research, Ipag Business School.
  5. Andrew Swiston, 2011. "Official Dollarization As a Monetary Regime," IMF Working Papers, International Monetary Fund 11/129, International Monetary Fund.
  6. Runchana Pongsaparn & Panda Ketruangroch & Dhanaporn Hirunwong, 2012. "Monetary Policy conduct in Review: The Appropriate Choice of Instruments," Working Papers, Economic Research Department, Bank of Thailand 2012-05, Economic Research Department, Bank of Thailand.
  7. Fabio Canova & Matteo Ciccarelli & Eva Ortega, 2009. "Do institutional changes affect business cycles? Evidence from Europe," Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra 1158, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2012.
  8. Shu Lin & Haichun Ye, 2012. "What to Target? Inflation or Exchange Rate," Southern Economic Journal, Southern Economic Association, Southern Economic Association, vol. 78(4), pages 1202-1221, April.
  9. Minea, Alexandru & Tapsoba, René, 2014. "Does inflation targeting improve fiscal discipline?," Journal of International Money and Finance, Elsevier, Elsevier, vol. 40(C), pages 185-203.
  10. Mª Ángeles Caraballo & Tilemahos Efthimiadis, 2012. "Divergent Optimal Inflation Rates In Euro Area Countries Or "Does One Size Fit All?"," EcoMod2012, EcoMod 3923, EcoMod.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:16124. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.