From a fixed exchange rate regime to inflation targeting
- Christoffer Kleivset
- Working Paper
By Christoffer Kleivset
This paper documents Norges Bank's role in the long transition period from a fixed exchange rate regime to inflation targeting in Norway. It is shown that the Bank's leadership and influential department leaders wanted more exchange rate flexibility from early on. However, due to the division of responsibility of economic policy in Norway – where a stable exchange rate was important with regards to incomes policy – this was met with resistance.
Norges Bank’s Working Papers present research projects and reports that are generally not in their final form. Other analyses by Norges Bank’s economists are also included in the series. The views and conclusions in these documents are those of the authors.
ISSN 1502-8143 (online)