Nominal Anchors in the Cis Peter Keller

ISBN: 9781282106406

Published: September 1st 2003

ebook

88 pages


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Nominal Anchors in the Cis  by  Peter Keller

Nominal Anchors in the Cis by Peter Keller
September 1st 2003 | ebook | PDF, EPUB, FB2, DjVu, AUDIO, mp3, ZIP | 88 pages | ISBN: 9781282106406 | 5.61 Mb

Monetary policy has become increasingly important in the countries of the Commonwealth of Independent States (CIS) as fiscal adjustment and structural reforms have taken root. Inflation has been brought down to relatively low levels in almost all ofMoreMonetary policy has become increasingly important in the countries of the Commonwealth of Independent States (CIS) as fiscal adjustment and structural reforms have taken root. Inflation has been brought down to relatively low levels in almost all of these countries, raising the question of what should be the appropriate nominal anchor at this stage.

Formally, almost all CIS countries have floating exchange rate regimes, yet in practice they manage their exchange rates very heavily, perhaps because of high levels of dollarization (i.e., they suffer from fear of floating). This paper explores the issues underlying the choice of a nominal anchor in CIS countries and seeks to assess whether the present mixed regime will prove durable.



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