Ocampo Gaviria, José Antonio; Ojeda Joya, Jair Neftali - In: Latin American journal of central banking : LAJCB 3 (2022) 4, pp. 1-19
than in flexible exchange-rate regimes. Third, monetary policy is more procyclical in economies with a higher degree of … financial openness prevents less procyclical monetary policy reactions due to the trade-off between exchange rate and income …