repression in domestic interest rates→to avoid an avalanche of foreign capital inflows that would threaten inflation and asset …

excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s. -- Inflation ; exchange rates …

experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the "standard model" suffice to explain the broad contours of macroeconomic outcomes in …

economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …