01846cas a2200277 a 4500 AALejournalIMF000210 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451854329 1018-5941 BD-DhAAL BD-DhAAL Ostry, Jonathan. Does the Nominal Exchange Rate Regime Matter? / Jonathan Ostry, Anne Gulde, Atish Ghosh, Holger Wolf. Washington, D.C. : International Monetary Fund, 1995. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The effect of the exchange rate regime on inflation and growth is examined. The 30-year data set includes over 100 countries and nine regime types. Pegged regimes are associated with lower inflation than intermediate or flexible regimes. This anti-inflationary benefit reflects lower money supply growth (a discipline effect) and higher money demand growth (a credibility effect). Output growth does not vary significantly across regimes: Countries with pegged regimes invest more and are more open to international trade than those with flexible rates, but they experience lower residual productivity growth. Output and employment are more variable under pegged rates than under flexible rates. Mode of access: Internet Ghosh, Atish. Gulde, Anne. Wolf, Holger. IMF Working Papers; Working Paper ; No. 1995/121 Full text available on IMF http://elibrary.imf.org/view/journals/001/1995/121/001.1995.issue-121-en.xml IMF e-Library