exchange rate regimes and in countries with a higher income. A low inflation environment, a prudent monetary policy, and a …

, and current account liberalization; and (ii) inflation and various determinants, including lagged inflation, the nominal … and the real exchange rate are significant determinants but not the exchange regime or liberalization; and for inflation …, the lagged inflation rate, nominal exchange rate, and the de facto regime are significant. Exchange rate pass-through is …

Several Central American (CADR) central banks with independent monetary policies have adopted policy interest rates as … inflation targeting regimes. This paper finds that the interest-rate transmission mechanism, or the pass-through of the policy …

regimes. It also reviews the performance of exchange rate regimes in terms of inflation and business cycles. …