Monetary Strategies from the Perspective of Intermediate Objectives
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.
When requesting a correction, please mention this item's handle: RePEc:voj:journl:v:54:y:2007:i:2:p:219-233. 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: (Ivana Horvat)
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.