{
  "title": "Inflation Targeting and Exchange Rate Regimes in Emerging Markets",
  "publication": "IMF Working Papers, October 28, 2015",
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  "summary": "This paper investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions.",
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    {
      "heading": "Overview",
      "content": "- Title: Inflation Targeting and Exchange Rate Regimes in Emerging Markets\n- Authors: Christian H Ebeke, Armand P Fouejieu\n- Publication date: October 28, 2015\n- Scope: Investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions.\n- Main methodological note from source: Uses a large sample of EMs and controls for the selection bias associated with the adoption of IT."
    },
    {
      "heading": "Key findings",
      "content": "- On average, IT countries have a relatively more flexible exchange rate regime than other EMs.\n- The flexibility of the exchange rate regime shows strong heterogeneity among IT countries depending on:\n  - their degree of openness, and\n  - exposure to FX risks.\n- The marginal effect of IT adoption on exchange rate flexibility:\n  - increases with the duration of the IT regime in place, and\n  - increases with the propensity scores to adopt IT."
    },
    {
      "heading": "Heterogeneity and conditional results",
      "content": "- Heterogeneity in exchange rate flexibility across IT adopters is linked to:\n  - degree of openness, and\n  - exposure to foreign exchange (FX) risks.\n- Conditional factors (duration of IT, propensity scores) modify the marginal impact of IT adoption on exchange rate flexibility."
    },
    {
      "heading": "Methodology and sample (as described)",
      "content": "- Sample: large sample of emerging markets (EMs).\n- Estimation approach: controls for selection bias associated with the adoption of IT.\n\n---\n\n Content in this bundle\n\n- wp15228\n  - wp15228 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp15228 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/inflation-targeting-and-exchange-rate-regimes-in-emerging-markets-43370"
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    "Authors: Christian H Ebeke, Armand P Fouejieu",
    "Published: October 28, 2015",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513586267.001",
    "Title: Inflation Targeting and Exchange Rate Regimes in Emerging Markets",
    "Authors: Christian H Ebeke, Armand P Fouejieu",
    "Publication date: October 28, 2015",
    "Scope: Investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions.",
    "Main methodological note from source: Uses a large sample of EMs and controls for the selection bias associated with the adoption of IT.",
    "On average, IT countries have a relatively more flexible exchange rate regime than other EMs.",
    "The flexibility of the exchange rate regime shows strong heterogeneity among IT countries depending on:",
    "The marginal effect of IT adoption on exchange rate flexibility:",
    "Heterogeneity in exchange rate flexibility across IT adopters is linked to:",
    "Conditional factors (duration of IT, propensity scores) modify the marginal impact of IT adoption on exchange rate flexibility.",
    "Sample: large sample of emerging markets (EMs).",
    "Estimation approach: controls for selection bias associated with the adoption of IT.",
    "**_wp15228**"
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