000			01257pab a2200205 454500
008			180718b2000 xxu||||| |||| 00| 0 eng d
100			_aFielding, David
245			_aMonetary discipline and inflation in developing countries: the role of the exchange rate regime
260			_c2000
300			_ap.521-38
362			_aJul
520			_aAdherence to a pegged exchange rate regime has the potential to affect inflation in two ways: by instilling monetary discipline and by altering the relationship between money and prices, because shocks to the money stock are absorbed partly by changes in the balance of payments. Although the latter is a disequilibrium phenomenon (if balance of payments deficits are unsustainable in the long run), it might still be important in the medium term. Evidence on the relative importance and magnitude of the two effects is presented, using cross-sectional macroeconomic data from 80 LDCs. Both effects are found to be significant. - Reproduced
650			_aMonetary policy - Developing countries
650			_aInflation - Developing countries
650			_aExchange rates - Developing countries
650			_aExchange rates
700			_aBleaney, Michael
773			_aOxford Economic Papers
909			_a45571
999			_c45571 _d45571