"Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...

Targeting Inflation is well enshrined as a principal central bank objective, but other goals are also acknowledged to be important, notably financial stability. In small and highly open (both in terms of trade in goods and financial assets) economies, capital flows and exchange rate volatility...

The paper by Kamber, Mohanty and Morley (KMM hereafter) is a carefully executed empirical investigation of the determinants of inflation in a broad sample of advanced and emerging market economies.A number of recent multi-country empirical studies of inflation dynamics have used estimated...