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alternative monetary policy regimes is determined by the degree of financial contagion, the degree of trade openness as well as …
Persistent link: https://www.econbiz.de/10012671532
Persistent link: https://www.econbiz.de/10009423198
The resumption of capital flows to emerging market economies since mid 2009 has posed two sets of interrelated challenges for policymakers: (i) to prevent capital flows from exacerbating overheating pressures and consequent inflation, and (ii) to minimize the risk that prolonged periods of easy...
Persistent link: https://www.econbiz.de/10014398487
We explore optimal monetary and macroprudential policy rules for a small open economy. Delegating 'lean against the wind' squarely to macroprudential policy provides a more robust policy mix to shock uncertainty—(i) if macroprudential measures exist, there are no significant welfare gains from...
Persistent link: https://www.econbiz.de/10014411396