Benes, Jaromir; Berg, Andrew; Portillo, Rafael A; … - International Monetary Fund (IMF) - 2013
We study a wide range of hybrid inflation-targeting (IT) and managed exchange rate regimes, analyzing their … implications for inflation, output and the exchange rate in the presence of various domestic and external shocks. To this end, we … effects in the financial sector. We find that there can be advantages to combining IT with some degree of exchange rate …