Monetary policy in Argentina under convertibility, 1991-96
A conceptual framework to analyze monetary policy might be the relationship“policy goal-operating target-monetary instrument.” Although the discretion of the monetaryauthorities is severely restricted, this analysis is also applicable to Argentina since 1991. Itsmonetary regime is governed by the Co...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2000 |
| País: | Brasil |
| Institución: | EDITORA 34 |
| Repositorio: | Revista de Economia Política |
| Idioma: | inglés |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/1014 |
| Acceso en línea: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1014 |
| Access Level: | acceso abierto |
| Palabra clave: | Política monetária convertibilidade regimes cambiais crise cambial Monetary policy convertibility exchange rate regimes currency crisis |
| Sumario: | A conceptual framework to analyze monetary policy might be the relationship“policy goal-operating target-monetary instrument.” Although the discretion of the monetaryauthorities is severely restricted, this analysis is also applicable to Argentina since 1991. Itsmonetary regime is governed by the Convertibility Law, which requires the Central Bank toconvert the domestic currency into dollars, and by the Central Bank Charter, which prescribesthat its “fundamental mission [...] is [...] to maintain the value of the currency.” Fiveperiods were found when the operating targets and monetary instruments were different,while the policy goal of price stability remained unchanged. JEL Classification: E52; F31. |
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