Eichengreen, Barry; Park, Donghyun; Ramayandi, Arief; … - 2020
-off exists between rigid exchange rate regimes and insulation from foreign shocks when the degree of international capital … mobility is high. On the other hand, Obstfeld, Ostry, and Qureshi (2017) find that countries with flexible exchange rate …, suggesting that flexible exchange rate regimes are better at insulating emerging markets from external shocks. There are, however …