Exchange Market Pressure and Monetary Policy : Asia and Latin America in the 1990s

Asia and Latin America in the 1990s

Exchange Market Pressure and Monetary Policy : Asia and Latin America in the 1990s
Exchange market pressure (EMP), the sum of exchange rate depreciation and reserve outflows (scaled by base money), summarizes the flow excess supply of money in a managed exchange rate regime. Examining Brazil, Chile, Mexico, Indonesia, Korea, and Thailand, this paper finds that monetary policy affects EMP as generally expected: contractionary... READ MORE...

Publication date: August 1999
ISBN 9781451853773
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