IMF paper examines emerging market counter-cyclical monetary policy

Emerging markets

A group of researchers at the IMF have used a "large sample" of emerging markets over the past 50 years to study how monetary policy in emerging economies can best be used in a counter-cyclical fashion.

The paper, Monetary Policy in Emerging Markets: Taming the Cycle by Donal McGettigan, Kenji Moriyama, Noah Ndela Ntsama, Francois Painchaud, Haonan Qu and Chad Steinberg, comes down in favour of inflation-targeting regimes, saying inflation targeting has an "economically meaningful impact" on

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