) preemptively can increase the resilience of the financial system to aggregate shocks, including those arising from capital inflows … including to shocks from capital flows. The Basel III process has improved the quality and level of capital, reduced leverage …

Developing countries fortunate enough to experience capital inflows haveseen rising levels of investment and enhanced … inflows by reducing the domestic component of themonetary base through the various initiatives explained in thispamphlet …

various shocks to the economy and the monetary authorities’ choice of intermediate policy targets and instruments used to …This paper examines some of the key issues in the conduct of Philippine monetary policy since 1984, including the … achieve those targets. Against this background, estimates of demand functions for various categories of monetary aggregates …

of the international monetary system. The use of exchange controls appears to have been little influenced by the degree …

exchange rate arrangements since the mid-1970s. There is first consideration of the extent to which real and monetary shocks …This paper examines the relationship between monetary and exchange rate policies by considering the factors that have … led the authorities in developed and developing countries in Asia to alter their use of monetary policy instruments and …

applied to support the independent monetary policy committed to the inflation target, while the exchange rate was quasi …

Capital flows are an important aspect of the international monetary system. They provide significant benefits, both …

Capital flows have increased significantly in recent years and are a key aspect of the global monetary system. They … offer potential benefits to countries, but their size and volatility can also pose policy challenges. The Fund needs to be …, the International Monetary and Financial Committee (IMFC) called for ?further work on a comprehensive, flexible, and …