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Papua New Guinea's Fear of Floating

Bowman, Chakriya


Calvo and Reinhart (2002) found a pervasive 'fear of floating' in emerging economies, and that officially announced currency regimes may diverge from central bank practice. Calvo and Reinhart's method is used to show that currency market intervention appears to be taking place in the kina, which is nominally a free floating currency. Further, some of the contradictions in the analysis are consistent with inflation targeting 'lite' (Stone 2003), and this framework may be useful in describing the...[Show more]

CollectionsANU Crawford School of Public Policy
ANU Research Publications
Date published: 2006
Type: Journal article
Source: Pacific Economic Bulletin


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