| Description |
1 online resource (41 pages) |
| Series |
IMF working paper ; WP/98/31 |
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IMF working paper ; WP/98/31.
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| Summary |
Money growth often surges after successful macroeconomic stabilization. These surges pose an especially difficult challenge to policymakers that stabilized with a money rule because they must decide whether or not to accommodate large increases in money growth unexplained by historical money demand relationships. Accommodation is the right choice if stabilization can be expected to trigger permanent shifts in money demand, and if the entrenchment of stability can be verified. Otherwise, accommodation will be inflationary, and can even threaten stability. Of course, money rule countries can avoid the accommodation dilemma by exiting from a money anchor to an exchange rate target or an inflation target. But a quick exit can aggravate the risks from other new shocks, such as increased capital inflow volatility and traded sector productivity improvements, particularly if the starting conditions for the new target are not yet firmly in place |
| Notes |
"March 1998." |
| Bibliography |
Includes bibliographical references (pages 31-33) |
| 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 |
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Print version record |
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digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Demand for money.
|
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Monetary policy.
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Foreign exchange rates.
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Economic stabilization.
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Demand for money -- Philippines -- Case studies
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Money -- Tables.
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Money
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Demand for money
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Economic stabilization
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Foreign exchange rates
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Monetary policy
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Philippines
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| Genre/Form |
Tables
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Case studies
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| Form |
Electronic book
|
| Author |
International Monetary Fund. Asia and Pacific Department, issuing body.
|
| ISBN |
1283555859 |
|
9781283555852 |
|
1451892497 |
|
9781451892499 |
|
1462362176 |
|
9781462362172 |
|
1452760381 |
|
9781452760384 |
|
9786613868305 |
|
6613868302 |
|
9781451980097 |
|
1451980094 |
| ISSN |
2227-8885 |
|
