02104cas a2200277 a 4500 AALejournalIMF002374 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849899 1018-5941 BD-DhAAL BD-DhAAL Zanello, Alessandro. Re-Establishing Credible Nominal Anchors After a Financial Crisis : A Review of Recent Experience / Alessandro Zanello, Mark Stone, Christopher Jarvis, Andrew Berg. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (45 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper studies the question of how to achieve monetary policy credibility and price stability after a financial crisis. We draw stylized facts and conclusions from ten recent cases: Brazil (1999); Bulgaria (1997); Ecuador (2000); Indonesia (1997); Korea (1997); Malaysia (1997); Mexico (1994), Russia (1998); Thailand (1997); and Turkey (2001). Among our conclusions, highlights include: (i) monetary policy alone cannot stabilize; (ii) floats bring nominal stability quickly in countries with low pre-crisis inflation and hard pegs have been at least narrowly successful for countries in deeper disarray; (iii) in floats, early and determined tightening brings nominal stability and does not appear more costly for output; (iv) monetary aggregate targeting rarely serves as a coherent framework for floats; informal or full-fledged inflation targeting offers more promise. Mode of access: Internet Berg, Andrew. Jarvis, Christopher. Stone, Mark. IMF Working Papers; Working Paper ; No. 2003/076 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/076/001.2003.issue-076-en.xml IMF e-Library