Series: IMF Working Papers
Author(s): Evan Tanner
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 1999
Keywords: Exchange Market Pressure, Domestic Credit, Exchange Rate, Vector Autoregression, monetary base, money supply, inflation, monetary fund
Exchange market pressure (EMP), the sum of exchange rate depreciation and reserve outflows (scaled by base money), summarizes the flow excess supply of money in a managed exchange rate regime. Examining Brazil, Chi...