Improving the Monetary Policy Frameworks in Central America
Several Central American (CADR) countries with independent monetary policies are strengthening their monetary frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy frameworks of CADR is key to improving the effectiveness of monetary policy. The paper reviews the literature on the reforms needed for strengthening the monetary policy frameworks, and examines the experiences of IT countries, Chile, Peru, and Uruguay to help distill lessons for CADR. It also constructs an index to measure the relative strength of the monetary policy framework of CADR countries.
|Date of creation:||01 Oct 2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (202) 623-7000
Fax: (202) 623-4661
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC
|Order Information:||Web: http://www.imf.org/external/pubs/pubs/ord_info.htm|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carlos García & Jorge Restrepo & Scott Roger, 2009.
"Hybrid Inflation Targeting Regimes,"
Working Papers Central Bank of Chile
533, Central Bank of Chile.
- Frankel, Jeffrey A., 2011.
"Monetary Policy in Emerging Markets: A Survey,"
4669671, Harvard Kennedy School of Government.
- Frankel, Jeffrey, 2011. "Monetary Policy in Emerging Markets: A Survey," Working Paper Series rwp11-003, Harvard University, John F. Kennedy School of Government.
- Jeffrey A. Frankel, 2010. "Monetary Policy in Emerging Markets: A Survey," NBER Working Papers 16125, National Bureau of Economic Research, Inc.
- Frederic S. Mishkin & Miguel A. Savastano, 2000.
"Monetary Policy Strategies for Latin America,"
NBER Working Papers
7617, National Bureau of Economic Research, Inc.
- Frederic S. Mishkin, 2011.
"Monetary Policy Strategy: Lessons From The Crisis,"
European Central Bank.
- Scott Roger, 2009. "Inflation Targeting at 20 - Achievements and Challenges," IMF Working Papers 09/236, International Monetary Fund.
- Dramane Coulibaly & Hubert Kempf, 2010.
"Does Inflation Targeting decrease Exchange Rate Pass-through in Emerging Countries ?,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
- Coulibaly, D. & Kempf, H., 2010. "Does Inflation Targeting decrease Exchange Rate Pass-through in Emerging Countries?," Working papers 303, Banque de France.
- Dramane Coulibaly & Hubert Kempf, 2010. "Does Inflation Targeting decrease Exchange Rate Pass-through in Emerging Countries?," Documents de travail du Centre d'Economie de la Sorbonne 10049, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Charles Freedman & Douglas Laxton, 2009. "Why Inflation Targeting?," IMF Working Papers 09/86, International Monetary Fund.
- Cukierman, Alex & Webb, Steven B & Neyapti, Bilin, 1992. "Measuring the Independence of Central Banks and Its Effect on Policy Outcomes," World Bank Economic Review, World Bank Group, vol. 6(3), pages 353-98, September.
- International Monetary Fund, 2010. "Weathering the Global Storm: The Benefits of Monetary Policy Reform in the LA5 Countries," IMF Working Papers 10/292, International Monetary Fund.
- Leonardo Leiderman & Rodolfo Maino & Eric Parrado, 2006.
"Inflation Targeting in Dollarized Economies,"
Working Papers Central Bank of Chile
368, Central Bank of Chile.
- Inci Ã–tker & Charles Freedman, 2010. "Important Elements for Inflation Targeting for Emerging Economies," IMF Working Papers 10/113, International Monetary Fund.
- Goldstein, Eli, 2002. "International Environmental Economics: A Survey of the Issues: Edited by Gunter G. Schulze and Heinrich W. Ursprung (Oxford University Press, New York, 2001)," European Journal of Political Economy, Elsevier, vol. 18(4), pages 799-801, November.
- Inci Ã–tker & Charles Freedman, 2009. "Country Experiences with the Introduction and Implementation of Inflation Targeting," IMF Working Papers 09/161, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:11/245. 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: (Jim Beardow)or (Hassan Zaidi)
If references are entirely missing, you can add them using this form.