000			00911nam a2200109Ia 4500
100			_aWORRELL, Delisle
245			_aMonetary policy in small open economies.
260			_c1996
520			_aIdentifies three objectives a central bank in a small open economy may address with monetary policies : to improve a weak or deteriorating balance of payments current account, to reverse excess money creation through central bank lending to government and to contain too rapid a build up of net foreign assets by the private sector. Looks at the instruments available to the central bank to achieve its objectives. Concludes that the only objective that may be pursued with monetary policy in a small open economy is to avoid or reverse short-term capital outflow other than one which is precipitated by exchange rate uncertainty or speculative attack on the domestic currency.
583			_c3/7/00 _kM2LMGR
942			_cA
999			_c22025 _d22025