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Implications of Globalization for Monetary Policy
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Author/Editor: |
Wagner, Helmut |
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November 1, 2001 |
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Electronic Access: |
Free Full Text (PDF file size is 3,469KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: This paper argues that the implications of globalization for monetary policy come mainly through two channels: On the one hand, the many structural changes that are associated with the globalization process cause an increase in the uncertainty surrounding monetary policy. This includes an increase in uncertainty about how to interpret macroeconomic data/indicators and about the monetary transmission mechanism. On the other hand, by strengthening the process of global economic integration, globalization increases international competition, thereby forcing market players to make structural adjustments or reforms that change the conditions or constraints under which monetary policy is implemented.
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Series: |
Working Paper No. 01/184 |
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Subject(s): |
Globalization | Monetary policy | Economic models |
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Author's keyword(s): |
Globalization
| monetary Policy
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Published: |
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November 1, 2001 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA1842001 |
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Pages: |
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62 |
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Price: |
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US$15.00
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Price Delivery Note: |
Prepayment required for individual copies. An annual subscription is $375.00 a year. It includes 12 monthly shipments and priority mail delivery. The Stock No. for the subscription is WPEA. |
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