The Framework of Monetary Policy in Malta

Grech, Aaron George (2003): The Framework of Monetary Policy in Malta.

Abstract

This paper describes the monetary policy framework of Malta preceding EU accession and its entry in the EMU. It reviews the rationale behind the fixed exchange rate regime that constituted Malta's monetary policy framework and argues that entry in the EMU consolidates this framework and gives additional benefits.

• Item Type: MPRA Paper
• Language: English
• Keywords: monetary policy
• Subjects: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy

References

Bonello M. C., Prerequisites for a Viable Exchange Rate Strategy, CBM Quarterly Review, December 2001.

Bonello M. C., Governor’s Statement, CBM Annual Report 2002.

Central Bank of Malta, Price Dynamics in the Maltese Economy, Box 1, Annual Report, 2000.

Central Bank of Malta, The Amendments to the Central Bank of Malta Act, Quarterly Review, December 2002.

Ellul E., Exchange Rate Policy in Malta, CBM Quarterly Review, December 1997.

International Monetary Fund, Malta: Staff Report for the 1999 Article IV Consultation, IMF Staff Country Report No.99/60, July 1999.

International Monetary Fund, Malta: Staff Report for the 2001 Article IV Consultation, IMF Staff Country Report No.01/128, August 2001.

Obstfeld M. & K. Rogoff, The Mirage of Fixed Exchange Rates, National Bureau of Economic Research, Working Paper No.5191, July 1995.