Monetary Policy and the Exchange Rate During the Crisis
This paper examines monetary policy during the Indonesian crisis, looking in particular at what should have been the proper focus of policy. Both the exchange rate and money base have been suggested as appropriate policy objectives, but it is argued here that neither provides adequate policy guidance during a crisis.
Volume (Year): 36 (2000)
Issue (Month): 2 ()
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- Ilan Goldfajn & Poonam Gupta, 2001.
"Overshootings and Reversals: The Role of Monetary Policy,"
Working Papers Central Bank of Chile
126, Central Bank of Chile.
- Ilan Goldfajn & Poonam Gupta, 2002. "Overshootings and Reversals: The Role of Monetary Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.), Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 9, pages 279-302 Central Bank of Chile.
- Ross McLeod, 1997. "Explaining chronic inflation in Indonesia," Journal of Development Studies, Taylor & Francis Journals, vol. 33(3), pages 392-410.
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