TY - BOOK ID - 135723176 TI - Monetary Policy Frameworks: An Index and New Evidence AU - Unsal, Filiz. AU - Garbers, Hendre. AU - Papageorgiou, Chris. PY - 2022 SN - 9798400202513 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - New Zealand KW - Macroeconomics KW - Economics: General KW - Money and Monetary Policy KW - Foreign Exchange KW - Banks and Banking KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Monetary Policy KW - Central Banks and Their Policies KW - International Monetary Arrangements and Institutions KW - Fiscal and Monetary Policy in Development KW - Economic & financial crises & disasters KW - Economics of specific sectors KW - Monetary economics KW - Currency KW - Foreign exchange KW - Banking KW - Monetary policy frameworks KW - Monetary policy KW - Exchange rate arrangements KW - Inflation targeting KW - Exchange rate flexibility KW - Central bank autonomy KW - Central banks KW - Currency crises KW - Informal sector KW - Economics UR - https://www.unicat.be/uniCat?func=search&query=sysid:135723176 AB - We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks’ laws and websites for 50 advanced economies, emerging markets, and low-income developing countries, from 2007 to 2018. Due to its scope and granularity, our index provides a holistic view of monetary policy frameworks which goes beyond existing measures of transparency or independence, as well as monetary policy or exchange rate regime classifications. Comparing the IAPOC index across countries and over time, we find that monetary policymaking is varied, fast-changing, and eclectic across the Policy and Operational Strategy and Communications pillars, especially in emerging markets and low-income developing countries. ER -