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Capital Controls or Macroprudential Regulation?

Capital Controls or Macroprudential Regulation? »

Source: Capital Controls or Macroprudential Regulation?

Volume/Issue: 2015/218

Series: IMF Working Papers

Author(s): Anton Korinek , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

ISBN: 9781513506463

Keywords: pecuniary externalities, macroprudential regulation, inequality, exchange rate, exchange, lenders, borrowers, markets, International Lending and Debt Problems, Open Economy Macroeconomics

International capital flows can create significant financial instability in emerging economies because of pecuniary externalities associated with exchange rate movements. Does this make it optimal to impose capital...

Cyclical Fiscal Rules for Oil-Exporting Countries

Cyclical Fiscal Rules for Oil-Exporting Countries »

Source: Cyclical Fiscal Rules for Oil-Exporting Countries

Volume/Issue: 2013/229

Series: IMF Working Papers

Author(s): Stephen Snudden

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2013

ISBN: 9781475514018

Keywords: Fiscal policy rules, countercyclical fiscal policy, macroeconomic policy, oil price, oil, fiscal rule, fiscal authority, tax revenues, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, Open Economy Macroeconomics

Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Us...

The Effects of Exchange Rate Fluctuationson Output and Prices

The Effects of Exchange Rate Fluctuationson Output and Prices »

Source: The Effects of Exchange Rate Fluctuationson Output and Prices : Evidence From Developing Countries

Volume/Issue: 2003/200

Series: IMF Working Papers

Author(s): Magda Kandil , and Ida Mirzaie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

ISBN: 9781451860184

Keywords: exchange rate, anticipated vs. unanticipated appreciation, supply vs. demand channels, real and inflationary effects, price inflation, aggregate demand, money supply, Open Economy Macroeconomics, Economic Growth of Open Economies,

The paper examines the effects of exchange rate fluctuations on real output and the price level in a sample of 33 developing countries. The theoretical model decomposes movements in the exchange rate into anticipat...

An Evaluation of Monetary Regime Options for Latin America

An Evaluation of Monetary Regime Options for Latin America »

Source: An Evaluation of Monetary Regime Options for Latin America

Volume/Issue: 2002/211

Series: IMF Working Papers

Author(s): Andrew Berg , Paolo Mauro , and Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451874853

Keywords: currency union, exchange rate, inflation, monetary policy, real exchange rate, International Monetary Arrangements and Institutions, Open Economy Macroeconomics,

We assess monetary regime options for Latin American countries. The costs of a common currency are likely to outweigh its benefits, as those countries face diverse economic shocks, do not trade much with each other...

External Conditions and Debt Sustainability in Latin America*

External Conditions and Debt Sustainability in Latin America* »

Source: External Conditions and Debt Sustainability in Latin America

Volume/Issue: 2013/27

Series: IMF Working Papers

Author(s): Gustavo Adler , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2013

ISBN: 9781475588835

Keywords: debt dynamics, debt ratios, Time-Series Models, Open Economy Macroeconomics, Forecasting and Simulation, Deficit,

Highly favorable external conditions have helped Latin America strengthen its economic fundamentals over the last decade. But, has the region built enough buffers to guard itself from a weakening of the external en...

Foreign Exchange Intervention under Policy Uncertainty*

Foreign Exchange Intervention under Policy Uncertainty* »

Source: Foreign Exchange Intervention under Policy Uncertainty

Volume/Issue: 2016/67

Series: IMF Working Papers

Author(s): Gustavo Adler , Ruy Lama , and Juan Pablo Medina Guzman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2016

ISBN: 9781475520415

Keywords: Foreign Exchange Intervention, Monetary Policy, Learning, inflation, central bank, exchange, currency, Open Economy Macroeconomics,

We study the use of foreign exchange (FX) intervention as an additional policy instrument in an environment with learning, where agents infer the central bank policy rules from its policy actions. Under full inform...

Global Financial Shocks and Foreign Asset Repatriation

Global Financial Shocks and Foreign Asset Repatriation »

Source: Global Financial Shocks and Foreign Asset Repatriation : Do Local Investors Play a Stabilizing Role?

Volume/Issue: 2014/60

Series: IMF Working Papers

Author(s): Gustavo Adler , Marie-Louise Djigbenou , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2014

ISBN: 9781484353349

Keywords: gross capital flows, foreign assets, global financial shocks, capital inflows, net capital, net capital flows, capital outflows, General, Open Economy Macroeconomics,

We study the dynamic response of gross capital flows in emerging market economies to different global financial shocks, using a panel vector-autoregressive (PVAR) setting. Our focus lies primarily on the potentiall...

How Does Globalization Affect the Synchronization of Business Cycles?

How Does Globalization Affect the Synchronization of Business Cycles? »

Source: How Does Globalization Affect the Synchronization of Business Cycles?

Volume/Issue: 2003/27

Series: IMF Working Papers

Author(s): Ayhan Kose , Eswar Prasad , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 March 2003

ISBN: 9781451844542

Keywords: Macroeconomic fluctuations, trade and financial integration, output and consumption comovement, correlations, financial integration, capital flows, correlation, Open Economy Macroeconomics, International Policy Coordination and Transmission,

This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited su...

An Evaluation of Monetary Regime Options for Latin America

An Evaluation of Monetary Regime Options for Latin America »

Volume/Issue: 2002/211

Series: IMF Working Papers

Author(s): Andrew Berg , Paolo Mauro , and Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

DOI: http://dx.doi.org/10.5089/9781451874853.001

ISBN: 9781451874853

Keywords: currency union, exchange rate, inflation, monetary policy, real exchange rate, International Monetary Arrangements and Institutions, Open Economy Macroeconomics,

We assess monetary regime options for Latin American countries. The costs of a common currency are likely to outweigh its benefits, as those countries face diverse economic shocks, do not trade much with each other...

Capital Controls or Macroprudential Regulation?

Capital Controls or Macroprudential Regulation? »

Volume/Issue: 2015/218

Series: IMF Working Papers

Author(s): Anton Korinek , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

DOI: http://dx.doi.org/10.5089/9781513506463.001

ISBN: 9781513506463

Keywords: pecuniary externalities, macroprudential regulation, inequality, exchange rate, exchange, lenders, borrowers, markets, International Lending and Debt Problems, Open Economy Macroeconomics

International capital flows can create significant financial instability in emerging economies because of pecuniary externalities associated with exchange rate movements. Does this make it optimal to impose capital...