FEMISE organized in collaboration with the Economic Research Forum (ERF), and the University of Tunis El Manar (UTM) its first thematic workshop on “Monetary Policy and Inflation Targeting” on the 24-25 October 2008, in Tunis, Tunisia.

The workshop gathered 80 specialized participants from the academic community, representatives of central banks of South Med Countries (Tunisia, Egypt, Morocco and TUrkey), as well as international experts (International Monetary Fund, World Bank and European Central Bank) to exchange views regarding adequate monetary policy regimes and the feasibility of an inflation targeting regime in Southern Mediterranean countries

Agenda : Monetary_Policy_IT_workshop-agenda

Moreover, the various sessions assessed the extent to which Egypt, Tunisia, Morocco and Turkey satisfy the necessary preconditions for the application of inflation targeting.The workshop also explored monetary transmission mechanisms as well as the experience of countries like Turkey and Poland.

The workshop capitalized on two large research projects one financed by FEMISE (through the European Commission) and the other one by ERF (through the GDN) and on the knowledge and experience of a number of international scholars and the insights of participating policymakers.

Agenda of the workshop

Background and Presented papers

Efficiency of Monetary Policies in a Changing Macroeconomic Environment
Lahcen Achy, Adel Boughrara, Mongi Boughzala, Hasan Ersel and
Fatih Özatay
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Are the Conditions for the Adoption of IT Satisfied in Morocco?
Adel Boughrara, Mongi Boughzala and Hassouna Moussa
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Credibility of Inflation Targeting in Morocco and Tunisia
Adel Boughrara, Mongi Boughzala and Hassouna Moussa
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The Monetary Transmission Mechanism in Egypt
Rania Al-Mashat and Andreas Billmeier
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Monetary Policy Transmission and Targeting Mechanisms in the MENA Region
Simon Neaime
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Monetary Transmission Mechanisms in Morocco and Tunisia
Adel Boughrara
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Inflation Control and Economic Instability
Hassouna Moussa
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The Tunisian Financial System and Inflation Targeting
Adel Boughrara, Mongi Boughzala and Hassouna Moussa
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Inflation Targeting in Turkey
Hasan Ersel and Fatih Özatay
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Monetary Policy in Egypt: A Retrospective and Preparedness for Inflation Targeting
Rania Al-Mashat
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The Transmission Mechanism of Monetary Policy in Morocco: An Analytical Framework
Pierre-Richard Agenor and Karim El Aynaoui
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Beyond Inflation Targeting: Assessing the Impacts and Policy Alternatives
Gerald Epstein and Erinc Yeldan
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Preconditions for IT: Financial soundness
Thierry Bracke
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Inflation targeting : Considerations for the case of Morocco
Younes Zouhar
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