IMF re-examines link between exchange and inflation rates

IMF headquarters in Washington DC

An IMF working paper has revisited the link between the nominal exchange rate regime and inflation, based on a sample of 145 emerging market and developing countries. The document is titled Words vs. Deeds: What Really Matters?

Authors Atish Ghosh, Mahvash Qureshi and Charalambos Tsangarides contend that, just as a de jure peg that is not backed by a de facto peg will have little value, de facto pegs that lack the corresponding de jure will likewise reap few of the low-inflation benefits

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