Constraints on the Design and Implementation of Monetary Policy in Oil Economies : The Case of Venezuela »
Series: IMF Working Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2008
Keywords: Oil Economies, monetary base, inflation, central bank, monetary fund, Venezuela, Republica Bolivariana De,
By definition, fiscal dominance impedes the effective implementation of any monetary strategy aimed at controlling inflation. Economies that exhibit oil dominance-a situation in which oil exports largely affect the...