国际货币基金组织：2024年新加坡：精选问题报告（英文版）

Sing apore has addressed high inflation over the past years amid a tight labor market through severalrounds of tightening of the exchange rate-based monetary policy. This paper estimates the exchangepass-through to inflation in Singapore with a particular focus on the role of labor market conditionsThe paper first finds a strong exchange rate pass-through to inflation in Singapore, after accountingfor the potential endogeneity of changes in the exchange rate. Further, it uncovers that labor m