Importing Credible Monetary Policy: A Way for Transition Economies to Fight Inflation?
2006, Economics Letters
Elham Mafi-Kreft, Steven F. Kreft
In the 1990s, transition economies were rearranging their monetary regimes. This paper compares the chosen regimes based on the level of discretionary power and the ability to control inflation. Results show that non-discretionary regimes produce lower and more stable inflation.
Mafi-Kreft, Elham and Steven F. Kreft. “Importing Credible Monetary Policy: A Way for Transition Economies to Fight Inflation?” Economics Letters, v 92, No.1, July 2006.
Transition economies; Currency board; European Monetary Union; Exchange rate regime