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ArtikelHas Monetary Policy Become More Efficient ? A Cross-Country Analysis  
Oleh: Cecchetti, Stephen G. ; Krause, Stefan ; Flores-Lagunes, Alfonso
Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 116 no. 511 (2006), page 408-433.
Topik: POLICY; monetary policy; efficient
Fulltext: F408.pdf (242.82KB)
  • Perpustakaan Pusat (Semanggi)
    • Nomor Panggil: EE28.22
    • Non-tandon: 1 (dapat dipinjam: 0)
    • Tandon: tidak ada
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Isi artikelOver the past 20 years, macroeconomic performance has improved in industrialised and developing countries alike. In a broad cross - section of countries inflation volatility has fallen markedly while output variability has either fallen or risen only slightly. This increased stability can be attributed to some combination of more efficient monetary policy making, a reduction in the variability of supply shocks, and changes in the structure of the economy. We develop a method for allocating performance changes among these factors. For 21 of the 24 countries we study, more efficient monetary policy has been the driving force behind improved performance.
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