The report argues that the exchange rate plays a larger role in targeting inflation by emerging economies than in the same program by advanced economies. It explores the policy and operational role of the rate within the broader monetary framework, and examines how emerging economies make the transition to inflation targeting. Their topics include different roles for the exchange rate and the policy trade-offs, foreign exchange market intervention within inflation-targeting policy implementation, transitioning to full-fledged inflation targeting, and implications of recent global shocks. There is no index. Annotation ©2010 Book News, Inc., Portland, OR (booknews.com)