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6 The Framework of Monetary Policy

6 The Framework of Monetary Policy »

Source: Macroeconomic Management : Programs and Policies

Series: Books

Author(s): Chorng-Huey Wong , Mohsin Khan , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 April 2002

ISBN: 9781589060944

Keywords: inflation, exchange rate, real exchange rate, monetary policy, exchange rates

This chapter describes a general framework for formulating monetary policy. The first part describes the objectives of monetary policy, the instruments available to attain those objectives, the basic element...

11 The Long-Run Equilibrium Real Exchange Rate: Theory and Measurement

11 The Long-Run Equilibrium Real Exchange Rate: Theory and Measurement »

Source: Macroeconomic Management : Programs and Policies

Series: Books

Author(s): Chorng-Huey Wong , Mohsin Khan , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 April 2002

ISBN: 9781589060944

Keywords: inflation, exchange rate, real exchange rate, monetary policy, exchange rates

A central focus of the macroeconomic policy advice that developing and transition economies have received over the past decade has been the importance of “getting prices right.” For transition economies this...