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From a fixed exchange rate regime to inflation targeting - A documentation paper on Norges Bank and monetary policy, 1992-2001

Author

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  • Christoffer Kleivset

    (Norges Bank (Central Bank of Norway))

Abstract

This paper documents Norges Bank’s role in the long transition period from a fixed exchange rate regime to inflation targeting in Norway. It is shown that the Bank’s leadership and influential department leaders wanted more exchange rate flexibility from early on. However, due to the division of responsibility of economic policy in Norway – where a stable exchange rate was important with regards to incomes policy – this was met with resistance.

Suggested Citation

  • Christoffer Kleivset, 2012. "From a fixed exchange rate regime to inflation targeting - A documentation paper on Norges Bank and monetary policy, 1992-2001," Working Paper 2012/13, Norges Bank.
    • Handle: RePEc:bno:worpap:2012_13
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    File URL: https://www.norges-bank.no/en/news-events/news-publications/Papers/Working-Papers/2012/WP-201213/
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    More about this item

    Keywords

    Monetary policy; Inflation targeting; Regime change;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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