Transition Strategies and Nominal Anchors on the Road to Greater Exchange Rate Flexibility

Princeton Essays in International Finance, No. 213

Posted: 17 Sep 2009

See all articles by Paul R. Masson

Paul R. Masson

International Monetary Fund (IMF) - Research Department; The Brookings Institution

Miguel A. Savastano

Monetary and Capital Markets Departrment

Barry Eichengreen

University of California, Berkeley; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Sunil Sharma

George Washington University - Elliott School of International Affairs

Abstract

This essay considers strategies that developing and emerging-market economies might use when seeking to exit from currency pegs. It also considers techniques for completing the move to greater flexibility, as well as the scope for adopting inflation targeting as a nominal anchor following an exit from a currency peg.

Suggested Citation

Masson, Paul R. and Savastano, Miguel A. and Eichengreen, Barry and Sharma, Sunil, Transition Strategies and Nominal Anchors on the Road to Greater Exchange Rate Flexibility. Princeton Essays in International Finance, No. 213 , Available at SSRN: https://ssrn.com/abstract=1474548

Paul R. Masson

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

The Brookings Institution ( email )

1775 Massachusetts Ave. NW
Washington, DC 20036-2188
United States
202-797-6278 (Phone)
202-797-2968 (Fax)

Miguel A. Savastano

Monetary and Capital Markets Departrment ( email )

700 19th Street NW
Washington, DC 20431
United States

Barry Eichengreen

University of California, Berkeley ( email )

310 Barrows Hall
Berkeley, CA 94720
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Sunil Sharma (Contact Author)

George Washington University - Elliott School of International Affairs ( email )

Institute for International Economic Policy
1957 E Street NW
Washington, DC 20052
United States

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