bispap51国际清算银行.pdf

BIS Papers No 51 Perspectives on inflation targeting, financial stability and the global crisis Contributions to the BIS-sponsored sessions at the annual LACEA meetings in 2008 and 2009 Monetary and Economic Department March 2010 Contributions in this volume were prepared for BIS-sponsored sessions at the 2008 and 2009 Latin American and Caribbean Economic Association (LACEA) Annual Meetings, held in Rio de Janeiro and Buenos Aires respectively. The views expressed are those of the authors and do not necessarily reflect those of the BIS. Individual contributions (or excerpts thereof) may be reproduced or translated with the authorisation of the authors concerned. Copies of publications are available from: Bank for International Settlements Communications CH-4002 Basel, Switzerland E-mail: publications@ Fax: +41 61 280 9100 and +41 61 280 8100 This publication is available on the BIS website (). © Bank for International Settlements 2010. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISSN 1609-0381 (print) ISBN 92-9131-822-1 (print) ISSN 1682 7651 (online) ISBN 92-9197-822-1 (online) Foreword Since 2006, the Bank for International Settlements (BIS), through its Representative Office for the Americas, has sponsored sessions at the annual meetings of the Latin American and Caribbean Economic Association (LACEA). The BIS invites high level central bank officials and leading academics to these sessions to stimulate the exchange of views on issues relevant to the central banking community in the region. In this BIS Paper, we are publishing selected presentations from the BIS-sponsored sessions at the two most recent LACEA annual gatherings: the November 2008 meeting, in Rio de Janeiro, and the October 2009 meeting, in Buenos Aires.