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Emerging Economy Responses to the Global Financial Crisis of 2007-09 - An Empirical Analysis of the Liquidity Easing Measures

Emerging Economy Responses to the Global Financial Crisis of 2007-09 - An Empirical Analysis of the Liquidity Easing Measures »

Source: Emerging Economy Responses to the Global Financial Crisis of 2007-09 - An Empirical Analysis of the Liquidity Easing Measures

Volume/Issue: 2009/265

Series: IMF Working Papers

Author(s): Etienne Yehoue

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874105

Keywords: Financial Markets, Monetary Policy, Central Banking, exchange rate, current account, foreign exchange, central bank, external debt

This paper draws on a unique data set on the nontraditional systemic liquidity easing measures recently undertaken by many emerging market economies. It offers an empirical analysis of the key determinants affectin...

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...

Financial Crisis, US Unconventional Monetary Policy and International Spillovers1

Financial Crisis, US Unconventional Monetary Policy and International Spillovers1 »

Source: Financial Crisis, US Unconventional Monetary Policy and International Spillovers

Volume/Issue: 2015/85

Series: IMF Working Papers

Author(s): Qianying Chen , Andrew Filardo , Dong He , and Feng Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2015

ISBN: 9781475520668

Keywords: emerging economies, global VAR, international monetary policy spillovers, quantitative easing, unconventional monetary policy, federal reserve, securities, reserve, Financial Markets and the Macroeconomy, Monetary Policy (Targets

We study the impact of the US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error-correction model (GVECM) and conducting counterfactual analyses. We focus on the...

Financial Dollarization in Latin America1

Financial Dollarization in Latin America1 »

Source: Financial Dollarization in Latin America

Volume/Issue: 2006/7

Series: IMF Working Papers

Author(s): Robert Rennhack , and Masahiro Nozaki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862676

Keywords: foreign currency, exchange rate, inflation, exchange rate flexibility, real exchange rate, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Financial Institutions and Services: General,

This paper tests several explanations for financial dollarization (FD), with an emphasis on Latin America. The results provide evidence that FD is a rational response to inflation uncertainty. The paper builds on p...

Fixed or Floating Exchange Regimes

Fixed or Floating Exchange Regimes »

Source: Fixed or Floating Exchange Regimes : Does it Matter for Inflation?

Volume/Issue: 1994/134

Series: IMF Working Papers

Author(s): Peter Quirk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1994

ISBN: 9781451855531

Keywords: exchange rate, exchange rates, foreign exchange, monetary policy

This paper reviews recent experience with the choice of floating or fixed (“anchor”) exchange regimes in industrial and developing countries. It concludes that desirable differences between the two se...

3. Foreign Exchange Market Intervention: How Good a Defense Against Appreciation Winds?

3. Foreign Exchange Market Intervention: How Good a Defense Against Appreciation Winds? »

Source: Regional Economic Outlook, April 2011, Western Hemisphere : Watching Out for Overheating

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2011

ISBN: 9781616350659

Keywords: inflation, exchange rate, central bank, foreign exchange, monetary policy

Emerging markets have increasingly relied on foreign exchange intervention to confront currency appreciation pressures arising from “easy external financing conditions.”Focusing on the last seve...

1. Global, U.S., and Canadian Outlook

1. Global, U.S., and Canadian Outlook »

Source: Regional Economic Outlook, April 2011, Western Hemisphere : Watching Out for Overheating

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2011

ISBN: 9781616350659

Keywords: inflation, exchange rate, central bank, foreign exchange, monetary policy

The global economy continues to expand, though heterogeneity and downside risks persist. The recovery in most advanced economies—where output remains below trend—is proceeding on...

I. Global, U.S., and Canadian Outlook

I. Global, U.S., and Canadian Outlook »

Source: Regional Economic Outlook, October 2008, Western Hemisphere : Grappling with the Global Financial Crisis

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 October 2008

ISBN: 9781589067592

Keywords: inflation, food prices, exchange rate, monetary policy, foreign currency

Global Outlook The world economy continues to be buffeted by the burgeoning downdraft of the financial crisis and volatile commodity prices. As such, the outlook poin...

I Overview

I Overview »

Source: Moving to Greater Exchange Rate Flexibility : Operational Aspects Based on Lessons from Detailed Country Experiences

Series: Occasional Papers

Author(s): Inci Ötker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2007

ISBN: 9781589066243

Keywords: Floating exchange rates, exchange rate, inflation, monetary policy, central bank, exchange rate flexibility

Many countries moved toward more flexible exchange rate regimes over the past decade. 1 Among the factors underlying the move to greater flexibility has been the belief that more...

If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows

If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows »

Source: If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows

Volume/Issue: 2015/256

Series: IMF Working Papers

Author(s): Swarnali Ahmed

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

ISBN: 9781498367196

Keywords: Fed liftoffs, policy responses, policy framework, emerging market economies, interest, market, portfolio, interest rate, Monetary Policy (Targets, Instruments

After more than six years of ultra-low interest rates, a Fed liftoff (rate hike) is just a matter of time. This paper goes back to history to understand the spillover effect - or what is termed in the paper as the...