Date of Original Version
Abstract or Description
The topic of this conference, An Institutional Framework for Monetary Stability, properly highlights one part of the problem of achieving and sustaining price stability. Without a supporting set of institutions, and public support of those institutions, a central bank finds it difficult, and in some countries impossible, to control inflation or deflation. Argentina is probably the best-known example of a developed country with inadequate institutions that prevent price stability, but it is not alone.