Monetary Space in Latin America: A Criterion to Regime Selection
This paper deals with a theoretical and empirical approach to analyze the selection of exchange rate/monetary regimes in emerging economies based on the “monetary space”, i.e. the framework where monetary policy should be developed. In turn, the monetary space was defined on the basis of four axes: fiscal dominance, external dominance, financial dominance and the size of the financial system.
|Date of creation:||Dec 2007|
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- Peter Bofinger & Timo Wollmershäuser, 2003.
"Managed Floating as a Monetary Policy Strategy,"
Economic Change and Restructuring,
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- De Grauwe, Paul, 1982. "The exchange rate in a portfolio balance model with a banking sector," Journal of International Money and Finance, Elsevier, vol. 1(1), pages 225-239, January.
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- S. C. Tsiang, 1975. "The Dynamics of International Capital Flows and Internal and External Balance," The Quarterly Journal of Economics, Oxford University Press, vol. 89(2), pages 195-214.
- Patterson, K D & Stephenson, M J, 1988. "Stock-Flow Consistent Accounting: A Macroeconomic Perspective," Economic Journal, Royal Economic Society, vol. 98(392), pages 787-800, September.
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