%0 Generic
%T Chapter 23. The Performance of Alternative Monetary Regimes
%A Ball, Laurence
%@ 0444534709
%@ 9780444534705
%@ 9780444534712
%K Monetary Policy
%K Inflation Targeting
%K Currency Union
%K European Central Bank
%K Hard Peg
%D 2010
%X This paper compares the performance of economies with different monetary regimes during the last quarter century. The conclusions include: (1) There is little evidence that inflation targeting affects performance in advanced economies, but some evidence of benefits in emerging economies; (2) Europe's monetary union has increased intra-European trade and capital flows, but divergence in national price levels may destabilize output in the future; (3) The monetary analysis of the European Central Bank has little effect on the ECB's policy decisions; and (4) Countries with hard currency pegs experience unusually severe recessions when capital flight occurs.
%U http://slubdd.de/katalog?TN_libero_mab2
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