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1、BISPapersNo51Perspectivesoninflationtargeting,financialstabilityandtheglobalcrisisContributionstotheBIS-sponsoredsessionsattheannualLACEAmeetingsin2008and2009MonetaryandEconomicDepartmentMarch2010ContributionsinthisvolumewerepreparedforBIS-sponsoredsession
2、satthe2008and2009LatinAmericanandCaribbeanEconomicAssociation(LACEA)AnnualMeetings,heldinRiodeJaneiroandBuenosAiresrespectively.TheviewsexpressedarethoseoftheauthorsanddonotnecessarilyreflectthoseoftheBIS.Individualcontributions(orexcerptsthereof)mayberepr
3、oducedortranslatedwiththeauthorisationoftheauthorsconcerned.Copiesofpublicationsareavailablefrom:BankforInternationalSettlementsCommunicationsCH-4002Basel,SwitzerlandE-mail:publications@bis.orgFax:+41612809100and+41612808100ThispublicationisavailableontheB
4、ISwebsite(www.bis.org).©BankforInternationalSettlements2010.Allrightsreserved.Briefexcerptsmaybereproducedortranslatedprovidedthesourceisstated.ISSN1609-0381(print)ISBN92-9131-822-1(print)ISSN16827651(online)ISBN92-9197-822-1(online)ForewordSince2006,theBa
5、nkforInternationalSettlements(BIS),throughitsRepresentativeOfficefortheAmericas,hassponsoredsessionsattheannualmeetingsoftheLatinAmericanandCaribbeanEconomicAssociation(LACEA).TheBISinviteshighlevelcentralbankofficialsandleadingacademicstothesesessionstost
6、imulatetheexchangeofviewsonissuesrelevanttothecentralbankingcommunityintheregion.InthisBISPaper,wearepublishingselectedpresentationsfromtheBIS-sponsoredsessionsatthetwomostrecentLACEAannualgatherings:theNovember2008meeting,inRiodeJaneiro,andtheOctober2009m
7、eeting,inBuenosAires.The2008papersinthisvolumearebyJosédeGregorio,GovernoroftheCentralBankofChile,andGuillermoCalvo,professorofeconomicsatColumbiaUniversity;the2009presentationsarebyVittorioCorbo,formerGovernoroftheCentralBankofChile,andMichaelDooley,profe
8、ssorofeconomicsattheUniversityofCalifornia,SantaCruz.ThisvolumeincludesintroductionsbyMárGudmundsson,DeputyHeadoftheBISMonetaryandEconomicDepartment(MED)whenhechairedthe2008sessionandnowGovernoroftheCentralBa
