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Monetary Strategies from the Perspective of Intermediate Objectives

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Author Info
Marianna Neupauerova () (Faculty of Economics, Technical University of Koice, Slovakia)
Jan Vravec () (Faculty of Economics, Technical University of Koice, Slovakia)
Abstract

Central bank can apply different kinds of monetary strategies. This paper analyses monetary strategy from the perspective of intermediate objectives. Right strategy should help to fulfil targeted goals. However, it is not easy to choose right strategy in right moment under certain economic conditions. This paper summarises basic principles, advantages, and disadvantages of four main strategies. Thus, it should simplify choice of the optimal one. Some practical aspects are explained through experience of several central banks and especially through example of the National Bank of Slovakia that applied gradually different strategies. These modifications were influenced by specific evolution of Slovak economy that has been typical for countries in transition. Thus, its experience can serve other countries that are in the beginning of transition process.

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File URL: http://www.panoeconomicus.rs/casopis/sestibroj/marianna%20neupauerova%20jan%20vravec%20monetary%20strategies%20from%20the%20perspective%20of.pdf
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File Function: First version, 2007
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Publisher Info
Paper provided by Faculty of economics, Department of Economics in its series Working Papers with number 200725.

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Length: 14 pages
Date of creation: Feb 2007
Date of revision: Jun 2007
Publication status: Published in Panoeconomicus, June 2007, pages 219-233
Handle: RePEc:voj:wpaper:200725

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Web page: http://www.panoeconomicus.rs/

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Related research
Keywords: Monetary strategy; Implicit inflation targeting; Explicit inflation targeting; Monetary targeting; Exchange rate targeting; Central bank;

Find related papers by JEL classification:
E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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This page was last updated on 2009-12-18.

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