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Are capital inflows expansionary or contractionary? : theory, policy implications, and some evidence

Blanchard, Olivier; Ostry, Jonathan David; Ghosh, Atish R. - 2015

Persistent link: https://www.econbiz.de/10011399220

Are capital inflows expansionary or contractionary? : theory, policy implications, and some evidence

Blanchard, Olivier; Ostry, Jonathan David; Ghosh, Atish R. - 2015

Persistent link: https://www.econbiz.de/10011529052

Export instability and the external balance in developing countries

Ghosh, Atish R. - In: Staff papers / International Monetary Fund 41 (1994) 2, pp. 214-235

Persistent link: https://www.econbiz.de/10001164554

Macroeconomic uncertainty, precautionary saving, and the current account

Ghosh, Atish R. - In: Journal of monetary economics 40 (1997) 1, pp. 121-139

Persistent link: https://www.econbiz.de/10001228095

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence

Blanchard, Olivier - 2015

The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising output, and the evidence appears to go their way. To...