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Financial instability, as a negative factor in the implementation of inflation targeting strategy

Abstract

The author examines the relationship of monetary policy and financial stability policy in inflation-targeting countries. Particular attention is paid to new directions in determining the form offinancial stability policy, which should be used in order to prevent the emergence offinancial imbalances in the country. Moreover, the paper states the main arguments for the need to consider financial stability as a prerequisite for the successful implementation of inflation targeting strategy.

About the Author

Е. Свирина
Финансовый университет при Правительстве РФ
Russian Federation


References

1. Сайт Центрального банка Великобритании. Режим доступа: http:// www.bankofengland.co.uk/

2. Режим доступа: http://www.bankofengland.co.uk/financialstability/index.htm

3. Interim financial committee — terms of reference, 2011, режим доступа:

4. Svensson L.E.O. Inflation targeting after the financial crisis, BIS review, 2010, P. 5.

5. Stone Mark R., Roger Scott, Nordstrom Anna, Shimizu Seiichi, Kisinbay Turgut, Restrepo Jorge. «The Role of the Exchange Rate in Inflation-Targeting Emerging Economies». Occasional paper №267. International Monetary Fund, Washington D.C., 2009, P. 38.

6. Disyatat Piti. «Inflation targeting, asset prices and financial imbalances: conceptualizing the debate». Working papers №168. Bank for International Settlements, Basel. 2005, P. 17.


Review

For citations:


  Financial instability, as a negative factor in the implementation of inflation targeting strategy. Entrepreneur’s Guide. 2012;(14):224-230. (In Russ.)

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ISSN 2073-9885 (Print)
ISSN 2687-136X (Online)