Inflation targeting and exchange rate co-ordination

Detalhes bibliográficos
Autor(a) principal: Alexandre, Fernando
Data de Publicação: 2001
Outros Autores: Driffill, John, Spagnolo, Fabio
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/1822/1431
Resumo: In a linear rational expectations two-country model, using an aggregate demand-aggregate supply framework, we analyze the effects of the adoption of an inflation targeting regime on exchange rate volatility and the possible scope for policy coordination. This analysis is conducted using optimized interest rate policy rules within a calibrated model. Rules for interest rates that respond either to exchange rates or to portfolio shocks give improved performance and permit gains from international coordination. Optimized Taylor Rules perform relatively well.
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spelling Inflation targeting and exchange rate co-ordinationInflation targetingTaylor truleExchange rate coordinationRational expectationsIn a linear rational expectations two-country model, using an aggregate demand-aggregate supply framework, we analyze the effects of the adoption of an inflation targeting regime on exchange rate volatility and the possible scope for policy coordination. This analysis is conducted using optimized interest rate policy rules within a calibrated model. Rules for interest rates that respond either to exchange rates or to portfolio shocks give improved performance and permit gains from international coordination. Optimized Taylor Rules perform relatively well.Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoAlexandre, FernandoDriffill, JohnSpagnolo, Fabio2001-042001-04-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/1431enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:05:29Zoai:repositorium.sdum.uminho.pt:1822/1431Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:55:55.849440Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Inflation targeting and exchange rate co-ordination
title Inflation targeting and exchange rate co-ordination
spellingShingle Inflation targeting and exchange rate co-ordination
Alexandre, Fernando
Inflation targeting
Taylor trule
Exchange rate coordination
Rational expectations
title_short Inflation targeting and exchange rate co-ordination
title_full Inflation targeting and exchange rate co-ordination
title_fullStr Inflation targeting and exchange rate co-ordination
title_full_unstemmed Inflation targeting and exchange rate co-ordination
title_sort Inflation targeting and exchange rate co-ordination
author Alexandre, Fernando
author_facet Alexandre, Fernando
Driffill, John
Spagnolo, Fabio
author_role author
author2 Driffill, John
Spagnolo, Fabio
author2_role author
author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Alexandre, Fernando
Driffill, John
Spagnolo, Fabio
dc.subject.por.fl_str_mv Inflation targeting
Taylor trule
Exchange rate coordination
Rational expectations
topic Inflation targeting
Taylor trule
Exchange rate coordination
Rational expectations
description In a linear rational expectations two-country model, using an aggregate demand-aggregate supply framework, we analyze the effects of the adoption of an inflation targeting regime on exchange rate volatility and the possible scope for policy coordination. This analysis is conducted using optimized interest rate policy rules within a calibrated model. Rules for interest rates that respond either to exchange rates or to portfolio shocks give improved performance and permit gains from international coordination. Optimized Taylor Rules perform relatively well.
publishDate 2001
dc.date.none.fl_str_mv 2001-04
2001-04-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/1822/1431
url http://hdl.handle.net/1822/1431
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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