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Towards Improved Monetary Policy in Indonesia: A comment

De Brouwer, Gordon


This comment argues that inflation-focused policy is appropriate for Indonesia but that it should be directed at underlying inflation over the medium term. It contends that McLeod's monetarist explanation of inflation in Indonesia is unsatisfactory in theory and is not consistent with the evidence: traded goods prices rose before, and substantially more than, non-traded goods prices during the crisis of 1997-98, which is not consistent with the monetarist view that inflation was caused by...[Show more]

CollectionsANU Research Publications
Date published: 2003
Type: Journal article
Source: Bulletin of Indonesian Economic Studies
DOI: 10.1080/0007491032000142773


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