| Description |
1 online resource (26 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/99/53 |
|
IMF working paper ; WP/99/53.
|
| Summary |
At the onset of the financial crisis in Mexico and the devaluation of the peso in December 1994, the Bank of Mexico (BOM) was prompted to adopt a floating exchange rate. This had significant implications for the implementation of monetary policy where the exchange rate no longer could provide the nominal anchor for the economy. Accordingly, the primary objective of the monetary program for 1995 was attaining price level stability through offsetting the inflationary effects of the devaluation. Consistent with this target, the BOM established a reserve money target (and in particular a limit on the annual growth of its credit), as a central element of its monetary program. As reserve requirements in Mexico were abolished in 1988, the demand for currency comprises much of the demand for reserve money. 2 Therefore underlying the adoption of a reserve money target is an assumption that the relationship governing the demand for reserve money (and thus currency) remained stable under the financial crisis. 3 |
| Bibliography |
Includes bibliographical references (pages 25-26) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
English |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
|
Print version record |
| Subject |
Demand for money -- Mexico
|
|
Money supply -- Mexico
|
|
Financial crises -- Mexico
|
|
Monetary policy -- Mexico
|
|
Demand for money
|
|
Financial crises
|
|
Monetary policy
|
|
Money supply
|
|
Mexico
|
| Form |
Electronic book
|
| Author |
Leone, Alfredo Mario
|
|
International Monetary Fund. Monetary and Exchange Affairs Department.
|
| ISBN |
1451894279 |
|
9781451894271 |
|
1281600946 |
|
9781281600943 |
|
1462379281 |
|
9781462379286 |
|
1451996551 |
|
9781451996555 |
|
9786613781635 |
|
6613781630 |
|
9781451847369 |
|
145184736X |
|
