Staff Discussion Notes

Two Targets, Two Instruments: Monetary and Exchange Rate Policies in Emerging Market Economies

ByAtish R. Ghosh, Jonathan David Ostry, Marcos Chamon

February 29, 2012

Preview Citation

Format: Chicago

Atish R. Ghosh, Jonathan David Ostry, and Marcos Chamon. "Two Targets, Two Instruments: Monetary and Exchange Rate Policies in Emerging Market Economies", Staff Discussion Notes 2012, 001 (2012), accessed 12/13/2025, https://doi.org/10.5089/9781475503623.006

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Summary

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Subject: Balance of payments, Banking, Capital inflows, Central bank policy rate, Exchange rate policy, Exchange rates, Financial services, Foreign exchange, Inflation targeting, Monetary policy

Keywords: Capital inflows, Central bank policy rate, EME central banks, EME inflation targeters, Exchange rate policy, Exchange rates, foreign exchange, Foreign Exchange Intervention, FX intervention, Global, inflation target, Inflation targeting, inflation-targeting EME, inflationary bias, IT framework, Monetary Policy, Policy response, SDN

Notes