Frankel, Jeffrey A. - Kennedy School of Government, Harvard University - 2011
Fiscal and monetary policy each has a role to play in mitigating the volatility that stems from the large trade shocks … policy and one for monetary policy. The proposal for fiscal policy is to emulate Chile's structural budget rule, and … particularly its avoidance of over-optimism in forecasting. The proposal for monetary policy is called Product Price Targeting (PPT …