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Emerging Market Volatility

Emerging Market Volatility »

Source: Emerging Market Volatility : Lessons from The Taper Tantrum

Volume/Issue: 2014/9

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Vivek Arora , Athanasios Arvanitis , Hamid Faruqee , Papa N'Diaye , and Tommaso Mancini Griffoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2014

ISBN: 9781498318204

Keywords: Monetary policy, Emerging markets, United States, Capital flows, Financial markets, Capital market volatility, Macroprudential Policy, Developed countries, Tapering, unconventional monetary policy

Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discusse...

The Empirics of Foreign Exchange Intervention in Emerging Markets

The Empirics of Foreign Exchange Intervention in Emerging Markets »

Source: The Empirics of Foreign Exchange Intervention in Emerging Markets : The Cases of Mexico and Turkey

Volume/Issue: 2004/123

Series: IMF Working Papers

Author(s): Cem Karacadag , and Roberto Guimarães

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

ISBN: 9781451854640

Keywords: Central bank intervention, foreign exchange market, capital flow, exchange rate, exchange rate volatility, foreign exchange sales,

This paper analyzes the effects of intervention on the level and volatility of the exchange rate in Mexico and Turkey, two emerging countries that have floating exchange rate regimes. The paper finds mixed evidence...

Factors Influencing Emerging Market Central Banks’ Decision to Intervene in Foreign Exchange Markets

Factors Influencing Emerging Market Central Banks’ Decision to Intervene in Foreign Exchange Markets »

Source: Factors Influencing Emerging Market Central Banks' Decision to Intervene in Foreign Exchange Markets

Volume/Issue: 2013/70

Series: IMF Working Papers

Author(s): Matthew Malloy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2013

ISBN: 9781475532814

Keywords: exchange rate, reserve adequacy, foreign exchange reserves, exchange reserves

Using panel data for 15 economies from 2001-12, I identify determinants of central bank foreign exchange intervention in emerging markets ('EMs') with flexible to moderately managed exchange rates. Similar to other...

I Introduction

I Introduction »

Source: Official Foreign Exchange Intervention

Series: Occasional Papers

Author(s): Jorge Canales Kriljenko , Cem Karacadag , Roberto Guimarães , and Shogo Ishii

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2006

ISBN: 9781589064218

Keywords: foreign exchange, exchange rate, foreign exchange market, central bank, exchange rate volatility

Shogo Ishii Central banks operating flexible exchange rate regimes intervene in the foreign exchange market for a variety of reasons. In developing countries, prevalent among...

II Best Practices in Official Interventions in the Foreign Exchange Market

II Best Practices in Official Interventions in the Foreign Exchange Market »

Source: Official Foreign Exchange Intervention

Series: Occasional Papers

Author(s): Jorge Canales Kriljenko , Cem Karacadag , Roberto Guimarães , and Shogo Ishii

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2006

ISBN: 9781589064218

Keywords: foreign exchange, exchange rate, foreign exchange market, central bank, exchange rate volatility

Jorge Iván Canales-Kriljenko, Roberto Guimarães, and Cem Karacadag This chapter provides an overview of the policy, technical, and administrative questions that must be addres...

III Survey of Foreign Exchange Intervention in Developing Countries

III Survey of Foreign Exchange Intervention in Developing Countries »

Source: Official Foreign Exchange Intervention

Series: Occasional Papers

Author(s): Jorge Canales Kriljenko , Cem Karacadag , Roberto Guimarães , and Shogo Ishii

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2006

ISBN: 9781589064218

Keywords: foreign exchange, exchange rate, foreign exchange market, central bank, exchange rate volatility

Jorge Iván Canales-Kriljenko Acomprehensive survey conducted by the International Monetary Fund in 2001 systematically documented the structure and main characteristics of the...

Emerging Market Volatility
			: Lessons from The Taper Tantrum

Emerging Market Volatility : Lessons from The Taper Tantrum »

Volume/Issue: 2014/9

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Vivek Arora , Athanasios Arvanitis , Hamid Faruqee , Papa N'Diaye , and Tommaso Mancini Griffoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2014

DOI: http://dx.doi.org/10.5089/9781498318204.006

ISBN: 9781498318204

Keywords: Monetary policy, Emerging markets, United States, Capital flows, Financial markets, Capital market volatility, Macroprudential Policy, Developed countries, Tapering, unconventional monetary policy

Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discusse...

Two Targets, Two Instruments
			: Monetary and Exchange Rate Policies in Emerging Market Economies

Two Targets, Two Instruments : Monetary and Exchange Rate Policies in Emerging Market Economies »

Volume/Issue: 2012/1

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , Atish Ghosh , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 2012

DOI: http://dx.doi.org/10.5089/9781475503623.006

ISBN: 9781475503623

Keywords: Emerging markets, Exchange rate policy, Central banks, Inflation targeting, Foreign exchange intervention, Monetary policy, exchange rate, inflation, central bank, foreign exchange

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief an...

Factors Influencing Emerging Market Central Banks' Decision to Intervene in Foreign Exchange Markets

Factors Influencing Emerging Market Central Banks' Decision to Intervene in Foreign Exchange Markets »

Volume/Issue: 2013/70

Series: IMF Working Papers

Author(s): Matthew Malloy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2013

DOI: http://dx.doi.org/10.5089/9781475532814.001

ISBN: 9781475532814

Keywords: exchange rate, reserve adequacy, foreign exchange reserves, exchange reserves

Using panel data for 15 economies from 2001-12, I identify determinants of central bank foreign exchange intervention in emerging markets ('EMs') with flexible to moderately managed exchange rates. Similar to other...

Monetary and Exchange Rate Dynamics During Disinflation
			: An Empirical Analysis

Monetary and Exchange Rate Dynamics During Disinflation : An Empirical Analysis »

Volume/Issue: 2005/33

Series: IMF Working Papers

Author(s): Lei Zhang , A. Hamann , and Andres Arias Leiva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

DOI: http://dx.doi.org/10.5089/9781451860528.001

ISBN: 9781451860528

Keywords: Inflation stabilization, nominal anchor, exchange rate-based stabilization, stabilization, exchange rate, exchange rate anchor, exchange rate volatility, foreign exchange, Open Economy Macroeconomics,

Based on the observed behavior of monetary aggregates and exchange rates, we classify inflation-stabilization episodes into two categories: de facto exchange rate-based stabilizations (ERBS) and non-ERBS. Unlike th...