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Mirage of fixed exchange rates.

By:

OBSTFELD, Maurice

Material type: Text

TextPublication details: 1995Action note:

3/7/00 M2LMGR

Summary: Puts forward some basic connections between monetary policy and exchange rate. Is of the view that a fixed exchange rate is very costly for a government to maintain, and suggests that efforts to reform monetary institutions should focus directly on restraining domestic inflation. The exchange rate should be used as an indicator but virtually never as the central target for monetary policy.

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Holdings
Item type	Current library	Status	Barcode
Analytic	CARICOM Documentation Centre	Available	0000000015798

Puts forward some basic connections between monetary policy and exchange rate. Is of the view that a fixed exchange rate is very costly for a government to maintain, and suggests that efforts to reform monetary institutions should focus directly on restraining domestic inflation. The exchange rate should be used as an indicator but virtually never as the central target for monetary policy.

3/7/00 M2LMGR

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