Given the costs to real output that inflation uncertainty has been shown to impose, two recent papers have investigated the interaction of inflation and uncertainty for a group of emerging market nations. Both papers find that an increase in inflation almost invariably increases uncertainty in...

The opening of stock markets in Asian, Latin American and other developing countries over the past decade has been widely praised, as there are many potential benefits of financial integration with the rest of the world. However, the turmoil in emerging markets since the Mexican, Asian, and...

One recent line of research on exchange rates is the effect of fixed or floating currencies on long-term growth. One difficulty with such studies is that emerging market countries with certain imbalances and potentially hard-to-observe policy distortions are more likely to choose a fixed...