TY  - JOUR
TI  - Monetary Stabilisation Policy in a European Union
T2  - HSE Economic Journal 
IS  - HSE Economic Journal 
KW  - exchange rate
KW  - monetary and inflation targetings
KW  - Bundesbank
KW  - economic growth
KW  - interest rate
KW  - inflation
KW  - euro area
AB  - This paper examines the European experiences with four basic types of monetary policy regimes: 1) monetary targeting, 2) exchange-rate targeting, 3) currency board, and 4) inflation targeting. The basic theme that emerges from this analysis is that transparency and accountability are crucial to constraining discretionary monetary policy so that it produces desirable long-run outcomes. Because the devil is in the details in achieving transparency and accountability, what strategy will work best in a country depends on its political, cultural and economic institutions and its past history.
AU  - Dmitriy Kondratov
UR  - https://ej.hse.ru/en/2011-15-2/38503237.html
PY  - 2011
SP  - 202-236
VL  - 15