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sharp fall in oil revenue combines with foreign exchange rationing to produce a steep rise in inflation. Counter intuitively …, a devaluation of the official exchange rate could temporarily reduce inflation. The model also explains how the hyper …
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As in many transition economies, Vietnam has experienced a multiple exchange rate system with three exchange rates having co-existed. This paper uses the Vector-Error-Correction model and the Granger tests to investigate the relationship between the official and black market exchange rates from...
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Russia, in February the median inflation expectation index for the next year also declined by 1.0 p.p. to 15.7%. As shown by …
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