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The distortionary effects of sterilised reserve accumulation on domestic credit markets : evidence from Uganda
Apaa Okello, Jimmy; Mkenda, Beatrice Kalinda; Luvanda, Eliab - In: Central Bank review / Central Bank of the Republic of Turkey 19 (2019) 3, pp. 93-105
Some small open Least Income Countries embarked on rapid accumulation of foreign reserves in the wake of volatile capital inflows. Foreign reserve accumulation is one way of managing volatile capital flows. However, rapid and persistent accumulation is not only costly, but potentially distort...
Persistent link: https://www.econbiz.de/10012131527
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Mitigating Turkey's trilemma tradeoffs
Akcelik, Yasin; Cortuk, Orcan; Turhan, İbrahim - In: Emerging markets finance & trade : a journal of the … 50 (2014) 6, pp. 102-118
Persistent link: https://www.econbiz.de/10011339504
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The path of impossible trinity in India : 1991-2018
Grewal, Harpreet Singh; Trivedi, Pushpa L. - In: Global business & economics review 24 (2021) 4, pp. 382-408
Persistent link: https://www.econbiz.de/10012594503
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Monetary policy independence under a flexible exchange rate regime : the Indian case
Grewal, Harpreet Singh; Trivedi, Pushpa L. - 2022
Persistent link: https://www.econbiz.de/10013402160
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The (unobservable) value of central bank's refinancing operations
Albertazzi, Ugo; Burlon, Lorenzo; Jankauskas, Tomas; … - 2020
We quantify the impact that central bank refinancing o perations a nd f unding f acilities had at reducing the banking sector's intrinsic fragility in the euro area in 2014-2019. We do so by constructing, estimating and calibrating a micro-structural model of imperfect competition in the banking...
Persistent link: https://www.econbiz.de/10012299010
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Effects of the extraordinary measures implemented by Banco de México during the COVID-19 pandemic on financial conditions
Alba, Carlos; Cuadra, Gabriel; Ibarra-Ramírez, Raúl - 2023
This paper analyzes the effects of the extraordinary measures implemented by the Bank of Mexico during the COVID-19 pandemic on financial conditions. For this purpose, we estimate a factoraugmented vector autoregressive (FAVAR) model for the period 2001-2021. Based on this model, we construct a...
Persistent link: https://www.econbiz.de/10014251037
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Prolonged Reserves Accumulation, Credit Booms, Asset Prices and Monetary Policy in Asia
Filardo, Andrew J. - 2016
This paper examines past evidence of prolonged periods of reserve accumulation in Asian emerging market economies and the direct and indirect implications for monetary stability through the potential impact of such episodes on financial stability. The empirical research focuses on identifying...
Persistent link: https://www.econbiz.de/10013007581
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Prolonged Reserves Accumulation, Credit Booms, Asset Prices and Monetary Policy in Asia
Filardo, Andrew J. - 2015
This paper examines past evidence of prolonged periods of foreign exchange reserves accumulation in the Asia-Pacific region. One empirical challenge is to identify periods of reserve accumulation that are sufficiently large and persistent to be categorised as prolonged. Several proxies for...
Persistent link: https://www.econbiz.de/10013023473
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The financial trilemma in China and a comparative analysis with India
Aizenman, Joshua; Sengupta, Rajeswari - Volkswirtschaftliche Fakultät, … - 2011
, exchange rate stability and financial integration subject to the constraints imposed by the Trilemma, in an era of widespread … globalization. In this paper we overview and contrast the Trilemma policy choices and tradeoffs faced by the two key drivers of … global economic growth-China and India. China’s Trilemma configurations are unique relative to other emerging markets in the …
Persistent link: https://www.econbiz.de/10011261190
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The financial trilemma in China and a comparative analysis with India
Aizenman, Joshua; Sengupta, Rajeswari - Volkswirtschaftliche Fakultät, … - 2011
, exchange rate stability and financial integration subject to the constraints imposed by the Trilemma, in an era of widespread … globalization. In this paper we overview and contrast the Trilemma policy choices and tradeoffs faced by the two key drivers of … global economic growth-China and India. China’s Trilemma configurations are unique relative to other emerging markets in the …
Persistent link: https://www.econbiz.de/10010556944