NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Inflation and Exchange Rate Targeting Challenges Under Fiscal Dominance

Rashad Ahmed, Joshua Aizenman, Yothin Jinjarak

NBER Working Paper No. 25996
Issued in June 2019, Revised in March 2020

---- Acknowledgments ----

Financial support of the Dockson Chair of University of Southern California and Victoria University of Wellington are gratefully acknowledged. Useful comments by Nigel McClung and the participants at the 28-29 August IMF-RBNZ, Wellington NZ, the BIS seminar (Hong Kong), Ken Kasa and the participants at the WCWIF University of Washington seminar are gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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