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Open access Sep 2026

Pegs, Prices, and Pass-Through: Exchange-Rate Regimes and Inflation Transmission in Commodity-Exporting Economies

Hard pegs are said to import price stability; floats, to absorb external shocks. Both claims are comparative, yet most evidence comes from single-regime settings. This paper estimates regime differences in inflation transmission on an unbalanced annual panel of commodity-dependent economies, 1990–2024; 71 economies pas...

M. Husain · 0 citations
Open access Aug 2026

External Inflation Exposure and Fiscal Policy Under the Dollar Peg: Evidence from GCC Economies

The six Gulf Cooperation Council (GCC) economies share a dollar peg and heavy hydrocarbon dependence, yet their inflation paths diverge sharply over time. Because the peg imports US monetary policy and forecloses nominal adjustment, GCC inflation plausibly reflects imported price pressure, oil revenue cycles working th...

M. Husain · 1 citation

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