In recent years the term quot;fear of floatingquot; has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention...

This paper studies the impact of exchange rate regimes on inflation, nominal money growth, real interes rates, and GDP growth. We find that, for nonindustrial economies, long pegs (lasting five or more years) are associated with lower inflation than floats, but at the cost of slower growth. A...

This paper studies the impact of exchange rate regimes on inflation, nominal money growth, real interest rates, and growth performance. We find that, for non-industrial economies, "long" pegs (defined as those lasting for five or more consecutive years) are associated with lower inflation than...

In recent years the term "fear of floating" has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has been...

This study analyses the performance of macroeconomic policy in South Africa in 2007- 2020 and outlines challenges for policy in the coming decade. After remarkable economic growth in 1997-07, South Africa's progress slowed dramatically in 2009 with the global financial crisis. Real GDP growth...