Monetary Policy Frameworks for Emerging Markets

Abstract

Contents: PART I: FRAMEWORKS FOR MONETARY POLICY 1. Monetary Policy Challenges for Emerging Market Economies Gill Hammond, Ravi Kanbur and Eswar Prasad 2. The Pursuit of Monetary and Financial Stability in Emerging Market Economies Bandid Nijathaworn and Piti Disyatat 3. Implementation of Inflation Targets in Emerging Markets Jose De Gregorio 4. Whatever Became of the Monetary Aggregates? Charles Goodhart 5. Fear of Appreciation: Exchange Rate Policy as a Development Strategy Eduardo Levy-Yeyati and Federico Sturzenegger 6. Aid Reversals, Credibility, and Macroeconomic Policy Edward Buffie, Christopher Adam, Stephen O'Connell and Catherine Pattillo PART II: COUNTRY EXPERIENCES 7. The Nexus between Monetary and Financial Stability: The Experience of Selected Asian Economies Sukudhew Singh 8. A Framework for Independent Monetary Policy in China Marvin Goodfriend and Eswar Prasad 9. Monetary Policy Transmission in India Rakesh Mohan and Michael Patra 10. Inflation Targeting and Exchange Rate: Notes on Brazil's Experience Daniela Silva Pires, Paulo Vieira da Cunha and Wenersamy Ramos de Alcantara 11. Czech Experience with Inflation Targeting Ludek Niedermayer 12. Monetary and Fiscal Policy Mix in Serbia: 2002-2007 Diana Dragutinovic 13. Aid Volatility, Monetary Policy Rules and the Capital Account in African Economies Christopher Adam, Stephen O'Connell and Edward Buffie 14. Regional Asymmetries in the Impact of Monetary Policy on Prices: Evidence from Africa David Fielding 15. Monetary Policy and Inflation Modeling in a More Open Economy in South Africa Janine Aron and John Muellbauer 16. Inflation Management and Monetary Policy Formulation in Ghana Nii Kwaku Sowa and Philip Abradu-Otoo 17. Monetary Policy in Zambia: Experience and Challenges Denny Kalyalya