ENGLISH

Beyond Inflation Targeting: Assessing the Impacts and Policy Alternatives

By Gerald A. Epstein , A. Erinc Yeldan

Book information

Publisher
Edward Elgar Publishing Limited
Year
2009
ISBN
1847209386, 9781847209382, 184844804X, 9781848448049
LCC
HG229 .B498 2009
Open Library ID
OL24478177M
Language
english
Format
PDF
Filesize
5 MB (5464252 bytes)
Pages
333\333
Scanned
yes
Time added
2011-06-04 13:46:07

Description

This volume, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as employment creation, poverty reduction and sustainable development. The book includes thematic chapters, including analyses of class attitudes toward inflation and unemployment and the gender impacts of restrictive monetary policy. Other chapters propose improved monetary frameworks for Argentina, Brazil, India, Mexico, the Philippines, South Africa, Turkey, and Vietnam. Policy frameworks that are explored include employment targeting, and targeting a stable and competitive real exchange rate. The authors also show that to reach a larger number of targets, including higher employment and stable inflation, central banks must use a larger number of instruments, including capital management techniques. This volume offers concrete, socially valuable alternatives that economists, policy makers, students and interested laypeople should consider before adopting one size fits all, often inadequate, policies that have become a virtual policy making fad.

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