The exchange rate regime does make a difference for inflation performance. It is difficult to infer its effect on growth, but policy variables, and other variables influencing economic activity, do have different effects on growth under different exchange-rate arrangements

The exchange rate regime does make a difference for inflation performance. It is difficult to infer its effect on growth, but policy variables - and other variables influencing economic activity - do have different effects on growth under different exchange-rate arrangements. To examine whether...

This paper investigates the role of dollarisation in the dynamics of inflation in Turkey. Descriptive analysis suggests that, in addition to high inflation and economic instability, institutional factors also played an important role in the evolution of dollarisation in Turkey. The empirical...

"Emerging market economies (EMEs) have experienced a noticeable decline in inflation since the mid-1990s. Whether this stable price environment in EMEs is likely to endure and what kind of policies need to be followed to ensure price stability, however, still continue to be questions of...