trends. In general, we show that disinflationary spillovers from the euro area have been an important factor for fixed … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …

We use changes in Brazil s tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and …. We find that an increase in Brazil s tax on foreign investment in bonds causes investors to significantly decrease their … portfolio allocations to Brazil in both bonds and equities. Investors simultaneously increase allocations to other countries …

The seven largest emerging market economies -China, India, Brazil, Russia, Mexico, Indonesia, and Turkey- constituted …. Given their size and integration, growth in EM7 could have significant cross-border spillovers. We provide empirical … estimates of these spillovers using a Bayesian vector auto regression model. We report three main results. First, spillovers …