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Myanmar's multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The...
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Remarks by President Dudley at the Foreign Policy Association Corporate Dinner, New York City.
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lead to relative prices that do not reflect the true relative costs of production. From this standpoint, "external balance …
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tolerant. A higher effective bargaining weight of importers relative to exporters in turn translates into lower import prices … and greater exchange rate pass-through into import prices. We show the range of price and invoicing outcomes that arise …
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