The Leading eBooks Store Online 4,353,660 members ⚫ 1,442,818 ebooks

New to eBooks.com?

Learn more

Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen

Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen by Selim Elekdag
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper argues in favor of a new formal monetary policy framework for Yemen emphasizing a proactive and rule-based approach with a greater direct focus on price stability in the context of a flexible management of the exchange rate. Although, as in many developing countries, institutional capacity is a concern, adopting a more formal framework could impel the kind of changes that are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term.
International Monetary Fund; January 2007
28 pages; ISBN 9781452755175
Read online, or download in secure EPUB or secure PDF format
Title: Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen
Author: Selim Elekdag; Nabil Ben Ltaifa; Todd Schneider; Saade Chami