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Domestic and Multilateral Effects of Capital Controls in Emerging Markets
Pasricha, Gurnain Kaur - 2015
-border bank lending). Spillovers seem to be more prevalent in Latin America than in Asia, reflecting the greater role of cross …
Persistent link: https://www.econbiz.de/10013016947
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Capital Controls and International Financial Stability : A Dynamic General Equilibrium Analysis in Incomplete Markets
Buss, Adrian - 2013
In this paper, we conduct an analysis of the implications of capital controls for financial stability. We study a financial transaction (Tobin) tax applicable to cross-border capital flows in a multi-good, multi-country dynamic equilibrium model with incomplete financial markets and...
Persistent link: https://www.econbiz.de/10013077233
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Has Emerging Asia Decoupled? An Analysis of Production and Trade Linkages Using the Asian International Input-Output Table
Pula, Gabor - 2009
dependence of emerging Asia on external demand. This paper analyses, using an update of the Asian International Input-Output (AIO … linkages. According to the results, we do not find evidence of the decoupling of emerging Asia from the rest of the world. On … indicates that emerging Asia's dependence on exports is only about one-third of its GDP, i.e. well below the 50% exposure …
Persistent link: https://www.econbiz.de/10012765710
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Bubble Thy Neighbor : Portfolio Effects and Externalities from Capital Controls
Forbes, Kristin J. - 2012
We use changes in Brazil's tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and externalities from capital controls on investor portfolios. The analysis is structured based on information from investor interviews. We find that an increase in Brazil's tax on foreign...
Persistent link: https://www.econbiz.de/10013103299
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Monetary Policy Spillovers, Capital Controls and Exchange Rate Flexibility, and the Financial Channel of Exchange Rates
Georgiadis, Georgios - 2019
We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...
Persistent link: https://www.econbiz.de/10012872104
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Capital Controls and Foreign Exchange Policy
Fratzscher, Marcel - 2012
The empirical analysis of the paper suggests that an FX policy objective and concerns about an overheating of the domestic economy have been the two main motives for the (re-)introduction and persistence of capital controls over the past decade. Capital controls are strongly associated with...
Persistent link: https://www.econbiz.de/10013111950
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The Feldstein-Horioka fact
Giannone, Domenico; Lenza, Michele - 2008
This paper shows that general equilibrium effects can partly rationalize the high correlation between saving and investment rates observed in OECD countries. We find that once controlling for general equilibrium effects the saving-retention coefficient remains high in the 70’s but decreases...
Persistent link: https://www.econbiz.de/10011604919
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On the International Spillovers of US Quantitative Easing
Fratzscher, Marcel - 2013
The paper analyses the global spillovers of the Federal Reserve's unconventional monetary policy measures. First, we find that Fed measures in the early phase of the crisis (QE1) were highly effective in lowering sovereign yields and raising equity markets, especially in the US relative to other...
Persistent link: https://www.econbiz.de/10013081463
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Current Account Reversals in Industrial Countries : Does the Exchange Rate Regime Matter?
Pancaro, Cosimo - 2013
This paper studies current account reversals in industrial countries across different exchange rate regimes. There are two major findings which have important implications for industrial economies with external imbalances: first, triggers of current account reversals differ between exchange rate...
Persistent link: https://www.econbiz.de/10013082531
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Capital Flows, Push versus Pull Factors and the Global Financial Crisis
Fratzscher, Marcel - 2013
The causes of the 2008 collapse and subsequent surge in global capital flows remain an open and highly controversial issue. Employing a factor model coupled with a dataset of high-frequency portfolio capital flows to 50 economies, the paper finds that common shocks – key crisis events as well...
Persistent link: https://www.econbiz.de/10013092662