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Exchange Rate Versus Price Level Targets

Author

Listed:
  • Rodseth, A.

Abstract

Two alternative targets for monetary policy are considered: Stability of the price level (or the rate of inflation) and stability of the exchange rate. The interest rate is regarded as the main instrument of the central bank.

Suggested Citation

  • Rodseth, A., 1996. "Exchange Rate Versus Price Level Targets," Memorandum 1996_007, Oslo University, Department of Economics.
    • Handle: RePEc:hhs:osloec:1996_007
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    Citations

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    Cited by:

    1. Dai, Meixing, 2006. "Independent inflation-targeting regime versus monetary union: An analysis of dynamic stability under endogenous inflation expectations," MPRA Paper 15142, University Library of Munich, Germany.
    2. Guender, Alfred V. & Tam, Julie, 2004. "On the performance of nominal income targeting as a strategy for monetary policy in a small open economy," Journal of International Money and Finance, Elsevier, vol. 23(2), pages 143-163, March.
    3. Devine, Máiréad & McCoy, Daniel, 1997. "Inflation Targeting: A Review of the Issues," Research Technical Papers 5/RT/97, Central Bank of Ireland.

    More about this item

    Keywords

    MONETARY POLICY; INFLATION; PRICES;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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