Aizenman, Joshua (contributor); Glick, Reuven (contributor) - 2008
confers gains in anti-inflation credibility, but
ultimately results in an exit from the peg occasioned by a big enough … inflation. In this case hoarding a unit of foreign
reserves reduces domestic assets held by the central bank by more than one … increase in the extent of sterilization across countries may have a common
component.
Sterilization and Inflation
Table …