Monetary Policy Strategies For Latin America Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Monetary Policy Strategies For Latin America book. This book definitely worth reading, it is an incredibly well-written.
Monetary Policy Strategies for Latin America by Frederic S. Mishkin,Miguel A. Savastano Pdf
Instead of focusing the debate about the conduct of monetary policy on whether the nominal exchange rate should be fixed or flexible, the focus should be on whether the monetary policy regime appropriately constrains discretion in monetary policymaking. Three frameworks deserve serious discussion as possible long-run strategies for monetary policy in Latin America. A hard exchange-rate peg, monetary targeting, and inflation targeting.
Mr.Marcos d Chamon,Mr.David J Hofman,Mr.Nicolas E Magud,Alejandro M. Werner
Author : Mr.Marcos d Chamon,Mr.David J Hofman,Mr.Nicolas E Magud,Alejandro M. Werner Publisher : International Monetary Fund Page : 320 pages File Size : 55,8 Mb Release : 2019-02-28 Category : Business & Economics ISBN : 9781484375686
Foreign Exchange Intervention in Inflation Targeters in Latin America by Mr.Marcos d Chamon,Mr.David J Hofman,Mr.Nicolas E Magud,Alejandro M. Werner Pdf
Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate regimes. The Latin American experience can be informative because some of its largest countries adopted floating exchange rate regimes and inflation targeting while continuing to intervene in foreign exchange markets. This edited volume reviews detailed accounts from several Latin American countries’ central banks, and it provides insight into how and with what aim many interventions were decided and implemented. This book documents the effectiveness of intervention and pays special attention to the role of foreign exchange intervention policy within inflation-targeting monetary frameworks. The main lesson from Latin America’s foreign exchange interventions, in the context of inflation targeting, is that the region has had a considerable degree of success. Transparency and a clear communication policy have been key. For economies that are not highly dollarized, rules-based intervention helped contain financial instability and build international reserves while preserving inflation targets. The Latin American experience can help other countries in the design and implementation of their policies.
Monetary Policy Challenges in Latin America by Fernando Toledo,Louis-Philippe Rochon Pdf
This ground-breaking book analyses the severe monetary policy challenges facing Latin American countries. Contributors reflect on how these issues should be addressed by policy-makers, identifying the need for a synergic response from regional central banks.
Author : Vegh, Carlos A. ,Morano, Lui,Friedheim, Diego Publisher : World Bank Publications Page : 62 pages File Size : 41,8 Mb Release : 2017-11-10 Category : Business & Economics ISBN : 9781464812170
LAC Semiannual Report October 2017 by Vegh, Carlos A. ,Morano, Lui,Friedheim, Diego Pdf
"After a growth slowdown that lasted six years (including a contraction of 1.3 percent last year), the Latin American and Caribbean (LAC) region is finally expected to resume positive growth in 2017, with market analysts forecasting real GDP growth of 1.2 percent for 2017 and 2.3 percent for 2018. The recovery, particularly in South America, will be led by a strong rebound in Argentina, which is expected to grow by 2.8 percent in 2017 and 3.0 percent in 2018, and Brazil, which is expected to resume positive growth as well, expanding by 0.7 percent in 2017 and 2.3 in 2018, after contracting for two consecutive years. The usual external drivers of growth (particularly commodity prices, and growth in China and U.S.) are expected to remain relatively neutral, which points to the need for the region to reinforce its own sources of growth (e.g., structural reforms, investment in infrastructure, and further international trade both within and outside the region). Unfortunately, the region finds itself in a weak fiscal situation with 28 out of 32 countries with an overall fiscal deficit, which implies that a gradual but sustained fiscal consolidation will be needed in the years ahead. The report's main focus (Chapter 2) is on the monetary policy dilemma faced by countries in LAC. When a typical commodity-exporter country in LAC is hit by, say, a negative terms of trade shock, real GDP falls, the currency depreciates, and inflation increases. The Central Bank faces the dilemma of (i) increasing policy rates to defend the currency/fight inflation, but at the cost of aggravating the recession or (ii) reducing the policy rate, thus stimulating output, but encouraging further depreciation and inflation. Traditionally, LAC countries have chosen the first option and have thus pursued procyclical monetary policy (i.e., increasing policy rates in bad times). Recently, however, many countries have been able to switch and become countercyclical (i.e., reducing policy rates in bad times), which enables them to prop up the economy in recessionary times (which is particularly important when lack of fiscal space precludes countercyclical fiscal policy)."
United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy
Author : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy Publisher : Unknown Page : 88 pages File Size : 49,6 Mb Release : 2000 Category : Business & Economics ISBN : PSU:000047036673
Monetary Stability in Latin America by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy Pdf
Author : Fernando Ferrari-Filho,Liuz F. de Paula Publisher : Edward Elgar Publishing Page : 261 pages File Size : 55,9 Mb Release : 2023-01-17 Category : Business & Economics ISBN : 9781802203981
Central Banks and Monetary Regimes in Emerging Countries by Fernando Ferrari-Filho,Liuz F. de Paula Pdf
This book focuses on the recent trends of monetary policy in Latin America. It analyzes how the actions of central banks and the monetary regimes of some Latin American countries have affected the economic performance of these countries, mainly in response to the international financial crisis (IFC) and COVID-19 crisis.
An Evaluation of Monetary Regime Options for Latin America by Andrew Berg,Eduardo Borensztein,Paolo Mauro Pdf
We assess monetary regime options for Latin American countries. The costs of a common currency are likely to outweigh its benefits, as those countries face diverse economic shocks, do not trade much with each other, and are affected by common international financial shocks only to the same extent as the average pair of emerging markets. Unilateral dollarization would be desirable only for those countries where there are strong links to the U.S. economy, the credibility of the monetary authorities is irreversibly lost, and there is keen demand for dollar-denominated financial assets. Finally, some countries in the region seem to be good candidates for meaningful and useful floating.
Including a Symposium on Latin American Monetary Thought by Luca Fiorito,Scott Scheall,Carlos Eduardo Suprinyak Pdf
In addition to general research contributions, volume 36C features a symposium edited by Andrés Álvarez on monetary economics in post-independence Latin America. The symposium features contributions from Matías Vernengo and Esteban Pérez Caldentey, Ricardo Solis Rosales, Florencia Sember, and Edna Carolina Sastoque Ramírez.
Mr.Yan Carriere-Swallow,Luis I. Jacome H.,Mr.Nicolas E Magud,Alejandro M. Werner
Author : Mr.Yan Carriere-Swallow,Luis I. Jacome H.,Mr.Nicolas E Magud,Alejandro M. Werner Publisher : International Monetary Fund Page : 128 pages File Size : 46,6 Mb Release : 2016-09-30 Category : Business & Economics ISBN : 9781475543360
Central Banking in Latin America by Mr.Yan Carriere-Swallow,Luis I. Jacome H.,Mr.Nicolas E Magud,Alejandro M. Werner Pdf
Latin America’s central banks have made substantial progress towards delivering an environment of price stability that is supportive of sustainable economic growth. We review these achievements, and discuss remaining challenges facing central banking in the region. Where inflation remains high and volatile, achieving durable price stability will require making central banks more independent. Where inflation targeting regimes are well-established, remaining challenges surround assessments of economic slack, the communication of monetary policy, and clarifying the role of the exchange rate. Finally, macroprudential policies must be coordinated with existing objectives, and care taken to preserve the primacy of price stability.
Resilience in Latin America by Mr.Jose De Gregorio Pdf
This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and fiscal expansion, exchange rate flexibility, a strong and well--regulated financial system, high level of reserves, and a bit of luck coming from very high terms of trade, were central to good economic performance. Persevering along the road of strong macroeconomic and financial policies is necessary, but not sufficient, to go from recovery to sustained growth.
Economic Policy and Stabilization in Latin America by Nader Nazmi Pdf
An analysis of economic policy in Latin America. The text utilises six case studies, and features the economic policies of the 1990s, mathematical and statistical modelling, and a review of competing paradigms.
