Buffie, Edward F.; O'Connell, Stephen A.; Pattillo, … - International Monetary Fund (IMF) - 2007
that simple monetary rules, specifically an (unsterilized) exchange rate crawl and a 'reserve buffer plus float … exchange rate to float freely once this reserve target is satisfied-have attractive properties relative to a range of … alternative strategies including those involving heavy reliance on bond sterilization or a commitment to a 'pure' exchange rate …