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Monetary and exchange rate policy in Korea : Assessments and policy issues

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Frame of Image ia at Berkeley, U.S.A (e-mail: eichengr@econ.berkeley.edu) Prepared for a symposium at the Bank of Korea, 25 August 2004. I thank Raul Garcia for exceptionally able research assistance and discussions, and Seung-Cheol Jeon, Jung Sik Kim, Junggun Oh, and Ramkishen Rajan for helpful comments.
<Contents>
Ⅰ. Introduction ……………………………………………………….….. 3 Ⅱ. Monetary Policy in Korea ..…………………………….……….……. 6 Ⅲ. What this Implies About the Transparency of Korean Monetary Policy.13 Ⅳ. Which Exchange Rate? ………………………………………..……… 15 Ⅴ. The Role of the Exchange Rate and Economic and Financial Development …………………………………………………………………………. 17 VI. Conclusion …………………………………………….…………...….. 19 <References> <Korean Executive Summary>
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I. Introduction
This paper considers some issues in the conduct of monetary and exchange rate policy since the financial crisis of 1997-8. My title is different than the one suggested by the Bank’s research planning and coordination team, which was “Six Years of Free Floating in Korea.” My alternative does not prejudge the question of how to characterize Korea’s monetary and exchange rate policy since the crisis. National officials will say that the Bank of Korea has pursued inflation targeting and that the exchange rate has not been an intermediate target nor even contained much useful information for forecasting economic trends. The Bank of Korea has adopted much of the apparatus of inflation targeting, complete with a band for target inflation and a Monetary Policy Report


Full Text
Title Monetary and exchange rate policy in Korea
Similar Titles
Sub Title

Assessments and policy issues

Material Type Reports
Author(English)

Eichengreen, Barry

Publisher

[Seoul]:The Bank of Korea

Date 2014-10
Pages 31
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding The Bank of Korea; KDI School