IMF paper on how to better manage commodity price cycles


Exchange rate flexibility can act as a powerful shock absorber for commodity-exporting countries facing volatile terms of trade, according to an International Monetary Fund paper, published on Monday.

Gustavo Adler and Sebastián Sosa, the paper's authors, use data from a sample of 64 emerging and large commodity-exporting advanced economies between 1970 and 2010 to examine the history of commodity price busts and the role of policies in mitigating or amplifying their economic impact. The authors

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