Exchange-rate-based stabilization is designed to reduce inflation by using the exchange rate as the main nominal anchor. This does not necessarily mean a fixed exchange rate. A crawling peg with a low rate of depreciation or a pre-announced gradual reduction in the rate of devaluation are alternative ways to use the exchange rate as a nominal anchor. Exchange-rate-based stabilization (ERBS) has been widely used in the high-inflation economies of Latin...
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INFORMATION
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1994/07/31
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Document de travail de recherche sur les politiques
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WPS1318
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1
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1
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Moyen-Orient et Afrique du Nord, Amérique latine et Caraïbes,
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2010/07/01
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Exchange-rate-based stabilization in Argentina and Chile : a fresh look
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inflation