Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/163449
Authors: 
Wagner, Helmut
Year of Publication: 
2002
Series/Report no.: 
SUERF Studies 17
Abstract: 
This paper argues that the implications of globalization for monetary policy come mainly through two channels: On the one hand, the many structural changes, which are associated with the globalization process, cause an increase in uncertainty surrounding monetary policy. This leads to an increase in uncertainty about how to interpret macroeconomic data/indicators and about the monetary transmission mechanism. On the other hand, by strengthening the process of global economic integration, the globalization process increases international competition. Thereby, globalization forces market players to make structural adjustments or reforms which change the conditions or constraints under which monetary policy is implemented.
Subjects: 
Globalization
monetary policy
JEL: 
E5
F0
F4
ISBN: 
978-3-902109-09-5
Document Type: 
Research Report

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