Setting a framework for monetary policy

Article Abstract:

An analysis of Edward Bomhoff's paper on the money-supply targeting and interest-rate targeting techniques employed by central banks to anchor the currency, an extension of Robert Barro's on the advantages of the two techniques, reveals that the short-term rate interest rate influences economic fluctuations. Bomhoff includes the effects of the monetary policy on the endogenous real interest rate. He suggests that interest-rate targeting increases the differences in forecast errors of inflation.

Evaluation, Economic aspects, Economic policy, Interest rates, Central banks, Bomhoff, Edward

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Fixed versus floating exchange rates

Article Abstract:

Most countries will benefit by choosing between flexible and fixed exchange rates. Inflation-rate targeting oriented to stabilize prices would then be able to make monetary policy credible.

World, Prices and rates, International aspects, Economics, Foreign exchange, Foreign exchange rates

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