Turkey’s financial policymakers have pursued a disciplined and restrictive policy mix so far, delivering high real interest rates and curbing fiscal expansion even as the economy slows. This commitment to inflation control has paved the…

In this chartbook, we look at the balance of payments across DM and EM countries. The US does not fare well, but neither do a few other countries.

Global currency markets have entered a new era. This implies that the framework for analyzing exchange rates must also change. We introduce a new framework for analyzing EM currencies and classify them into…