Price Dynamics in Latvia - Experience and Future Prospects
The Latvian experience shows that the central bank's successful monetary policy, together with the government's prudent policies, helps to reduce inflation. Due to Latvia's small size and high degree of openness of its economy, the exchange rate plays a significant role in determining inflation in the country. The Bank of Latvia's interim objective - the stability of the exchange rate - has been the key to achieving and maintaining price stability. In light of the fact that many factors that determine inflation in Latvia are beyond the central bank's control, the pursuit of a strategy based on inflation targeting appears to be difficult.
|Date of creation:||04 Dec 2001|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +371 702 2300
Fax: +371 702 2420
Web page: http://www.bank.lv/
More information through EDIRC
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.:
- Frederic S Mishkin, 1997.
"Strategies for Controlling Inflation,"
RBA Annual Conference Volume,
in: Philip Lowe (ed.), Monetary Policy and Inflation Targeting
Reserve Bank of Australia.
- Alf Vanags, 1998. "Macroeconomic stabilisation and central bank policy in Latvia," Post-Communist Economies, Taylor & Francis Journals, vol. 10(2), pages 203-215.
- Jordi Galí & Mark Gertler, 1998.
"Inflation dynamics: A structural econometric analysis,"
Economics Working Papers
341, Department of Economics and Business, Universitat Pompeu Fabra.
- Gali, Jordi & Gertler, Mark, 1999. "Inflation dynamics: A structural econometric analysis," Journal of Monetary Economics, Elsevier, vol. 44(2), pages 195-222, October.
- Jordi Gali & Mark Gertler, 2000. "Inflation Dynamics: A Structural Econometric Analysis," NBER Working Papers 7551, National Bureau of Economic Research, Inc.
- Canzoneri, Matthew B & Cumby, Robert & Diba, Behzad, 1996.
"Relative Labour Productivity and the Real Exchange Rate in the Long Run: Evidence for a Panel of OECD Countries,"
CEPR Discussion Papers
1464, C.E.P.R. Discussion Papers.
- Canzoneri, Matthew B. & Cumby, Robert E. & Diba, Behzad, 1999. "Relative labor productivity and the real exchange rate in the long run: evidence for a panel of OECD countries," Journal of International Economics, Elsevier, vol. 47(2), pages 245-266, April.
- Matthew B. Canzoneri & Robert E. Cumby & Behzad Diba, 1996. "Relative Labor Productivity and the Real Exchange Rate in the Long Run: Evidence for a Panel of OECD Countries," NBER Working Papers 5676, National Bureau of Economic Research, Inc.
- Frederic S. Mishkin, 2000.
"Inflation Targeting in Emerging-Market Countries,"
American Economic Review,
American Economic Association, vol. 90(2), pages 105-109, May.
- Takatoshi Ito & Peter Isard & Steven Symansky, 1997.
"Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia,"
NBER Working Papers
5979, National Bureau of Economic Research, Inc.
- Takatoshi Ito & Peter Isard & Steven Symansky, 1999. "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia," NBER Chapters, in: Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues (NBER-EASE volume 7), pages 109-132 National Bureau of Economic Research, Inc.
- Quinn, Terry & Kenny, Geoff & Meyler, Aidan, 1999.
"Inflation Analysis: An Overview,"
Research Technical Papers
1/RT/99, Central Bank of Ireland.
- A. Javier Hamann, 1999.
"Exchange-Rate-Based Stabilization: Acritical Look At the Stylized Facts,"
IMF Working Papers
99/132, International Monetary Fund.
- By A. Javier Hamann, 2001. "Exchange-Rate-Based Stabilization: A Critical Look at the Stylized Facts," IMF Staff Papers, Palgrave Macmillan, vol. 48(1), pages 4.
- Richards, Anthony J. & Tersman, Gunnar H. R., 1996.
"Growth, Nontradables, and Price Convergence in the Baltics,"
Journal of Comparative Economics,
Elsevier, vol. 23(2), pages 121-145, October.
- Anthony J. Richards & Gunnar Tersman, 1995. "Growth, Nontradables, and Price Convergence in the Baltics," IMF Working Papers 95/45, International Monetary Fund.
- Asea, Patrick K & Mendoza, Enrique G, 1994. "The Balassa-Samuelson Model: A General-Equilibrium Appraisal," Review of International Economics, Wiley Blackwell, vol. 2(3), pages 244-67, October.
- Ernesto HernÃ¡ndez-CatÃ¡, 1999. "Price Liberalization, Money Growth, and Inflation During the Transition to a Market Economy," IMF Working Papers 99/76, International Monetary Fund.
- Stephen G. Cecchetti & Erica L. Groshen, 2000. "Understanding Inflation: Implications for Monetary Policy," NBER Working Papers 7482, National Bureau of Economic Research, Inc.
- Jorge A. Chan-Lau & Stephen Tokarick, 1999. "Why Has Inflation in the United States Remained so Low? Reassessing the Importance of Labor Costs and the Price of Imports," IMF Working Papers 99/149, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:ltv:wpaper:200101. 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: (Ivars Tillers)
If references are entirely missing, you can add them using this form.