Balance of Payments Anti-Crises »
Journal Issue
Volume/Issue: 2009/134
Series: IMF Working Papers
Author(s): Isabel Yan , and Michael Kumhof
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2009
DOI: http://dx.doi.org/10.5089/9781451872811.001
ISBN: 9781451872811
Keywords: Balance of payments anti-crises, inflation dynamics, foreign exchange, exchange rate, inflation targeting,
Several emerging economies have, until recently, experienced large government surpluses and accelerating foreign exchange reserve accumulation. This has been accompanied by economic booms, exchange rate appreciatio...