Does the Nominal Exchange Rate Regime Matter?:

The effect of the exchange rate regime on inflation and growth is examined. The 30-year data set includes over 100 countries and nine regime types. Pegged regimes are associated with lower inflation than intermediate or flexible regimes. This anti-inflationary benefit reflects lower money supply gro...

Full description

Saved in:
Bibliographic Details
Main Author: Ostry, Jonathan David (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 1995
Series:IMF Working Papers Working Paper No. 95/121
Online Access:UBW01
UEI01
LCO01
SBR01
UER01
SBG01
UBG01
FAN01
UBT01
FKE01
UBY01
UBA01
FLA01
UBM01
UPA01
UBR01
FHA01
FNU01
BSB01
TUM01
Volltext
Summary:The effect of the exchange rate regime on inflation and growth is examined. The 30-year data set includes over 100 countries and nine regime types. Pegged regimes are associated with lower inflation than intermediate or flexible regimes. This anti-inflationary benefit reflects lower money supply growth (a discipline effect) and higher money demand growth (a credibility effect). Output growth does not vary significantly across regimes: Countries with pegged regimes invest more and are more open to international trade than those with flexible rates, but they experience lower residual productivity growth. Output and employment are more variable under pegged rates than under flexible rates
Physical Description:1 Online-Ressource (43 p)
ISBN:1451854323
9781451854329

There is no print copy available.

Interlibrary loan Place Request Caution: Not in THWS collection! Get full text