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The Effects of Capital Controls on Exchange Rate Volatility and Output
Frenkel, Michael; Stadtmann, Georg; Schmidt, Gunter; … - 2021
, such capital controls have the merit of reducing the volatility of exchange rates following a monetary shock. On the other … hand, the implementation increases exchange rate volatility in the short run and induces costs for the real sector in the …
Persistent link: https://www.econbiz.de/10013317786
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The Effects of Capital Controls on Exchange Rate Volatility and Output
Frenkel, Michael; Nickel, Christiane; Schmidt, Gunter; … - 2003
, such capital controls have the merit of reducing the volatility of exchange rates following a monetary shock. On the other … hand, the implementation increases exchange rate volatility in the short run and induces costs for the real sector in the …
Persistent link: https://www.econbiz.de/10014122083
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Financial openness and macroeconomic volatility
Hagen, Jürgen von (contributor); Zhang, Haiping (contributor) - 2006
We analyze the implications of financial openness to macroeconomic volatility in a small open economy. Major … macroeconomic aggregates show non-monotonic volatility patterns with respect to the degree of financial openness in the model … without domestic financial frictions. The introduction of domestic financial frictions makes the volatility patterns flatter …
Persistent link: https://www.econbiz.de/10003449265
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Alternative Tools to Manage Capital Flow Volatility
Alper, Koray - 2014
Heightened volatility in cross-border capital flows has increased exchange rate volatility across emerging markets as … volatility. This paper explains how the new policy framework adopted by the Central Bank of the Republic of Turkey (CBRT) in the … instruments developed by the CBRT and their contribution to coping with capital flow volatility. In particular, we focus on the …
Persistent link: https://www.econbiz.de/10013049964
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Excessive Volatility in Capital Flows : A Pigouvian Taxation Approach
Jeanne, Olivier; Korinek, Anton - 2010
reinforcing effects. In our model, capital controls reduce macroeconomic volatility and increase standard measures of consumer …
Persistent link: https://www.econbiz.de/10014045298
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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
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Recent advances in the literature on capital flow management
Beck, Roland; Berganza, Juan Carlos; Brüggemann, Axel; … - 2023 - Revised September 2023
Large swings in cross-border capital flows can have consequences for domestic stability and open a channel for the transmission of shocks and spillovers across economies, including the euro area. Against this backdrop, the present paper reviews new evidence for the effectiveness of capital flow...
Persistent link: https://www.econbiz.de/10014517643
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Monetary and Fiscal Policies in a Sudden Stop : Is Tighter Brighter?
Ortiz, Alberto - 2012
In this paper we ask whether tighter monetary and fiscal policies are the right way to face a sudden stop (a sudden curtailment in capital flows) in a typical emerging economy. We develop exogenous measures of fiscal and monetary policy response and conclude that tighter policies are associated...
Persistent link: https://www.econbiz.de/10013104754
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How important are global factors for understanding the dynamics of international capital flows?
Eller, Markus; Huber, Florian; Schuberth, Helene - 2018
We propose a dynamic factor model with time-varying parameters and stochastic volatility to analyze the relationship … country-specific capital flow volatility and that the impact of these variables has become even more important since the 2008 …
Persistent link: https://www.econbiz.de/10011929696
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A survey of the literature on managing capital inflows
Kawai, Masahiro (contributor); Takagi, Shinji (contributor) - 2008
How to manage capital inflows remains an important policy issue for many emerging market economies. This paper presents a brief survey of the literature on managing capital inflows, with a focus on developing and emerging market economies. The paper, after discussing the economic characteristics...
Persistent link: https://www.econbiz.de/10003719200