Narrow search
Showing 1 - 10 of 694
Cover Image
Leaning against the global financial cycle
Ferrero, Andrea; Habib, Maurizio Michael; Stracca, Livio; … - 2022
We study the role and the interaction of the quality of institutions and of counter-cyclical policies in leaning against the Global Financial Cycle (GFC) in Emerging Economies (EMEs). We show that heteroegeneity in institutional strength is a key determinant of the different effects of the GFC...
Persistent link: https://www.econbiz.de/10013488632
Cover Image
Capital flows-at-risk : push, pull and the role of policy
Eguren-Martin, Fernando; O'Neill, Cian; Sokol, Andrej; … - 2021
We characterise the probability distributions of various categories of gross capital flows conditional on information contained in financial asset prices in a panel of emerging market economies, with a focus on "tail" events. Our framework, based on the quantile regression methodology, allows...
Persistent link: https://www.econbiz.de/10012503534
Cover Image
Domestic and multilateral effects of capital controls in emerging markets
Pasricha, Gurnain Kaur; Falagiarda, Matteo; … - 2015
Persistent link: https://www.econbiz.de/10011349813
Cover Image
EME financial conditions : which global shocks matter?
Lodge, David; Manu, Ana-Simona - 2019
This paper provides a quantitative assessment of the relative importance of global structural shocks for changes in financial conditions across a sample of emerging market economies. We disentangle four key drivers of global financial markets (oil supply shocks, global economic news shocks,...
Persistent link: https://www.econbiz.de/10012009181
Cover Image
Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates
Georgiadis, Georgios; Zhu, Feng - 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/10011997477
Cover Image
America First? : a US-centric view of global capital flows
McQuade, Peter; Schmitz, Martin - 2019
with those of the rest of the world. We analyse the relative importance of US, country-specific, and global variables as …. Global and national risk indicators perform better in explaining "rest of the world" flows. Moreover, we find that the … correlation between US and rest of the world flows peaks in periods of elevated uncertainty. We interpret our findings as evidence …
Persistent link: https://www.econbiz.de/10011975553
Cover Image
A risk management perspective on macroprudential policy
Chavleishvili, Sulkhan; Fahr, Stephan; Kremer, Manfred; … - 2021
Macroprudential policymakers assess medium-term downside risks to the real economy arising from financial imbalances and implement policies aimed at managing those risks. In doing so, they face an inherent intertemporal trade-off between the expected growth and downside risks. This paper reviews...
Persistent link: https://www.econbiz.de/10012519434
Cover Image
Targeting financial stability : macroprudential or monetary policy?
Aikman, David; Giese, Julia; Kapadia, Sujit; McLeay, Michael - 2019
This paper explores monetary-macroprudential policy interactions in a simple, calibrated New Keynesian model incorporating the possibility of a credit boom precipitating a financial crisis and a loss function reflecting financial stability considerations. Deploying the countercyclical capital...
Persistent link: https://www.econbiz.de/10012009108
Cover Image
Financial policy in an exuberant world
Walther, Ansgar - 2020
This paper studies optimal financial policy in a world where the financial sector can become excessively optimistic. I …
Persistent link: https://www.econbiz.de/10012178343
Cover Image
Necessity as the mother of invention : monetary policy after the crisis
Blinder, Alan S.; Ehrmann, Michael; Haan, Jakob de; … - 2017
We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys - one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...
Persistent link: https://www.econbiz.de/10011635320