Showing 1 - 10 of 4,600
This paper explores the idea that “Fear of Floating” and accompanying pro-cyclical interest rate policies observed in the case of some emerging market economies may be justified as an optimal discretionary monetary policy response to shocks. The paper also examines how the differences in...
Persistent link: https://www.econbiz.de/10005408203
Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding...
Persistent link: https://www.econbiz.de/10011084623
This paper analyses whether sovereign default episodes can be seen as contingencies of optimal international lending contracts. The model considers a small open economy with capital accumulation and without commitment to repay debt. Taking first order approximations of Bellman equations, I...
Persistent link: https://www.econbiz.de/10010744981
Three of the most important recent facts in global macroeconomics — the sustained rise in the US current account deficit, the stubborn decline in long run real rates, and the rise in the share of US assets in global portfolio — appear as anomalies from the perspective of...
Persistent link: https://www.econbiz.de/10005090729
Three of the most important recent facts in global macroeconomics - the sustained rise in the US current account deficit, the stubborn decline in long run real rates, and the rise in the share of US assets in global portfolio - appear as anomalies from the perspective of conventional wisdom and...
Persistent link: https://www.econbiz.de/10005666722
Given all the ambiguities about the outcomes of the financial liberalization process, it is relevant to ask what the systematic, cross-country evidence reveals on several questions, including: What happens to key macroeconomic and variables following domestic and external financial...
Persistent link: https://www.econbiz.de/10005616649
The short experience with liberalisation of capital inflows documented in this paper highlights the pressures of a capital surge upon domestic monetary management.It also reveals the additional constraint of fiscal- led monetary expansion in India,which are likely to be impediments to future...
Persistent link: https://www.econbiz.de/10005119431
This paper examines the impact of capital flows on the domestic financial sector in India. Inflow of foreign capital, it is found, has a significant impact on domestic money supply and stock market growth, liquidity and volatility. The banking sector, however, remains relatively insulated due to...
Persistent link: https://www.econbiz.de/10005119480
Three of the most important recent facts in global macroeconomics - the sustained rise in the US current account deficit, the stubborn decline in long run real rates, and the rise in the share of US assets in global portfolio - appear as anomalies from the perspective of conventional wisdom and...
Persistent link: https://www.econbiz.de/10005121441
This paper documents trends in capital flows into India in a comparative perspective,examines the impact of these flows on key macroeconomic variables and discusses the implications for economic policy........
Persistent link: https://www.econbiz.de/10005125547