WorldCat Identities

García-Herrero, Alicia

Overview
Works: 5 works in 24 publications in 1 language and 182 library holdings
Roles: Author
Classifications: HG3881.5.I58, 332.152
Publication Timeline
.
Most widely held works by Alicia García-Herrero
World commodity prices as a forecasting tool for retail prices : evidence from the United Kingdom by Alicia García-Herrero( )

11 editions published in 1997 in English and held by 92 WorldCat member libraries worldwide

During the 1990s, several countries have a monetary policy framework based on explicit inflation targets. Two main factors underlay the change. First, there was widespread acceptance that price stability should be the primary objective of monetary policy. This follows from the proposition that in the long-run the level of real economic activity is neutral with respect to monetary policy so that, in equilibrium, the most that monetary policy can achieve is a desired rate of inflation or price level. Second, there was disillusionment with monetary aggregates as a nominal anchor, and problems in maintaining an exchange rate peg.2 Because the end-product of monetary policy actions are inflation outcomes, countries with inflation targets are often said to pursue "final target" strategies. However, final target approaches do not mean that intermediate variables are not necessary. In the U.K., inflation was introduced as final target of monetary policy in September 1992, following the exit of the sterling from the European Exchange Rate Mechanism (ERM), and was accompanied by the Bank of England's inflation projection published quarterly in the Inflation Report.3 The inflation projection in the Inflation Report offers an early warning indicator of inflationary pressures. It is actively used as an intermediate variable, or more generally as a guidepost for monetary policy decisions.4 Among the information variables taken into account by the Bank of England in assessing the inflation outlook are developments in world commodity prices. This paper investigates, using cointegration and Granger-causality techniques, whether a stable long-run comovement exists between different world commodity price indices and whether short-run changes in commodity prices convey information about future movements in U.K. retail prices. The results suggest that little may be gained by using developments in commodity prices to forecast movements in retail prices in the inflation targeting framework, either in the long or the short-run
Monetary impact of a banking crisis and the conduct of monetary policy by Alicia García-Herrero( )

8 editions published in 1997 in English and held by 83 WorldCat member libraries worldwide

While the impact of banking crises on monetary management is difficult to predict with certainty, some lessons can be drawn from country experiences. A group of seven countries having undergone banking crises has been analyzed. Six of the countries chosen, three transition economies (Estonia, Latvia and Lithuania) and three Latin American countries (Argentina, Paraguay and Venezuela), experienced banking crises in the 1990s.3 Some of them, especially Paraguay and Lithuania have not fully recovered from the their respective crises yet. The Philippines' banking crisis in the 1980s has been included as a benchmark, to compare the monetary impact of banking crises in the 1980s and the 1990s. Among the 1980s banking crisis, the Philippines' case appeared particularly interesting since it came on the heels of large capital outflows and a currency crisis, which can make it comparable to the Argentine's crisis in 1995
Monetary impact of a banking crisis and the conduct of monetary policy by Alicia Garcia-Herrero( Book )

2 editions published in 1997 in English and held by 3 WorldCat member libraries worldwide

Additional evidence on EMS interest rate linkages by Alicia Garcia-Herrero( Book )

2 editions published in 1996 in English and held by 3 WorldCat member libraries worldwide

Additional evidence on EMS interest rate linkages by Alicia García Herrero( )

1 edition published in 1996 in English and held by 1 WorldCat member library worldwide

 
Audience Level
0
Audience Level
1
  Kids General Special  
Audience level: 0.67 (from 0.32 for Additional ... to 0.97 for Monetary i ...)

Alternative Names
Herrero Alicia García-

Languages
English (24)