Convergence or divergence – directions of the monetary policy development after the year 1999 Cover Image

Konwergencja czy dywergencja – kierunki zmian w polityce monetarnej po 1999 r.
Convergence or divergence – directions of the monetary policy development after the year 1999

Author(s): Agnieszka Tomczak
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: monetary policy; globalisation; inflation target; base rate

Summary/Abstract: The purpose of the article is to show if the monetary policy of the last fifteen-year period, i.e. at the time of globalization of economies and financial markets turmoil, has led to convergence of the goals and directions of changes with regard to the fundamental instruments affecting economy. The analysis covered highly-developed countries and selected intensively developing economies. The research was based on information about the goals (gathered from 33 central banks) and data concerning basic interest rates employed by 16 central banks, inclusive of EBC. The study pointed to a convergence of the goals and directions of changes with regard to the fundamental instrument, particularly in the Eurozone, the Great Britain, Scandinavian countries, the United States and Canada, as well as South Korea.

  • Issue Year: 2014
  • Issue No: 348
  • Page Range: 384-393
  • Page Count: 10
  • Language: Polish