One decade of inflation targeting in the world offers lessons on the design and
implementation of inflation targeting, the conduct of monetary policy, and country …

High and persistent inflation has been one of the distinguishing macroeconomic
characteristics of many develo** countries since the end of World War II. Countries …

This paper examines the case for using two instruments—the policy interest rate and
sterilized foreign exchange market intervention—in emerging market countries seeking to …

The unhappy experience of Latin American and East Asian countries with pegged exchange-
rate regimes when those countries found themselves in deepfinancialcrisesinthe1990' …

Inflation targeting is a monetary-policy strategy characterized by an announced numerical
inflation target, an implementation of monetary policy that gives a major role to an inflation …

The monetary policy experience of Latin America has not been a happy one. Economies in
this region have gone through extreme episodes of monetary instability, swinging from very …

Over the past 15 years, explicit inflation targeting (IT) has been adopted by an increasing
number of central banks, and a substantial body of literature has emphasized the …

We evaluate the treatment effect of inflation targeting in thirteen develo** countries that
have adopted this policy by the end of 2004. Using a variety of propensity score matching …

Dollarization, in a broad sense, is increasingly a defining characteristic of many emerging
market economies. How important is this trend quantitatively and how important is it for the …

This book by a leading authority on monetary policy offers a unique view of the subject from
the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic …