دانلود مقاله ISI انگلیسی شماره 47877
ترجمه فارسی عنوان مقاله

ظهور یک سیستم پولی بین المللی پایدار: هدفگذاری تورمی معکوس شده برتون وودز است

عنوان انگلیسی
A stable international monetary system emerges: Inflation targeting is Bretton Woods, reversed
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
47877 2007 19 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of International Money and Finance, Volume 26, Issue 5, September 2007, Pages 663–681

ترجمه کلمات کلیدی
ثابت - مالی - تبادل - نرخ - سرمایه - پایتخت - کنترل - با دوام - رژیم
کلمات کلیدی انگلیسی
F02; F33Fixed; Financial; Exchange; Rate; Capital; Controls; Durable; Regime
پیش نمایش مقاله
پیش نمایش مقاله  ظهور یک سیستم پولی بین المللی پایدار: هدفگذاری تورمی معکوس شده برتون وودز است

چکیده انگلیسی

A stable international monetary system has emerged since the early 1990s. A large number of industrial and a growing number of developing countries now have domestic inflation targets administered by independent and transparent central banks. These countries place few restrictions on capital mobility and allow their exchange rates to float. The domestic focus of monetary policy in these countries does not have any obvious international cost. Inflation targeters have lower exchange rate volatility and less frequent “sudden stops” of capital flows than similar countries that do not target inflation. Inflation targeting countries also do not have current accounts or international reserves that look different from other countries. This system was not planned and does not rely on international coordination. There is no role for a center country, the IMF, or gold. It is durable; in contrast to other monetary regimes, no country has been forced to abandon an inflation-targeting regime. Succinctly, it is the diametric opposite of the post-war system; Bretton Woods, reversed.