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Exchange Rate, Monetary, and Inflation Targets

Author

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  • Helder Ferreira de Mendonça

Abstract

Since the beginning of the Quantitative Theory of Money by David Hume, the relation between money and price level has been analyzed by monetary economists. Nowadays the search for price stability has induced the policymakers to adopt one of three monetary regimes: fixed exchange rate, monetary targeting, or inflation targeting. The present paper makes a comparative analysis among these possibilities highlighting the advantages and disadvantages that belong to each monetary regime. JEL Classification: E52; E58.

Suggested Citation

  • Helder Ferreira de Mendonça, 2002. "Exchange Rate, Monetary, and Inflation Targets," Brazilian Journal of Political Economy, Center of Political Economy, vol. 22(1), pages 36-54.
    • Handle: RePEc:ekm:repojs:v:22:y:2002:i:1:p:36-54:id:924
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/924/2132
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    More about this item

    Keywords

    Targets; Exchange rate; monetary aggregates; inflation;
    All these keywords.

    JEL classification:

    • 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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