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2022 Update of the External Balance Assessment Methodology

Allen, Cian; Casas, Camila; Ganelli, Giovanni; Juvenal, … - 2023

The assessment of external positions and exchange rates of member countries is a key mandate of the IMF. The External Balance Assessment (EBA) methodology has provided the framework for conducting external sector assessments by Fund staff since its introduction in 2012. This paper provides the...

Persistent link: https://www.econbiz.de/10014256592

The IMF and Regulation of Cross-Border Capital Flows

Feibelman, Adam - 2015

This Article examines the International Monetary Fund's recent efforts to play an assertive regulatory role with regard to global capital flows. There is a growing consensus among scholars and policymakers that states must carefully manage capital flows and coordinate their policies for doing...

Persistent link: https://www.econbiz.de/10013031468

Increased Capital Mobility - A Challenge for National Macroeconomic Policies

Grauwe, Paul De; Polan, Magdalena - Centrum voor Economische Studiën, Faculteit Economie … - 2000

The increased mobility of capital of the last few decades creates new challenges for the macroeconomic policies of the nation-states. In this paper we analyse some of these challenges. Contrary to what is often alleged, increased capital mobility does not necessarily increase the need for...

Persistent link: https://www.econbiz.de/10005824100

Policy Uncertainty Spillovers to Emerging Markets - Evidence from Capital Flows.

Gauvin, L.; McLoughlin, C.; Reinhardt, D. - Banque de France - 2013

level of country specific default risk matters for equity flows only. …

Persistent link: https://www.econbiz.de/10010661255

China's macroeconomic policies and spillover effects

Niemeläinen, Julia - 2023

This paper provides a brief overview of China's capital controls, external asset holdings and the real interest rate, and analyzes the quantitative effects of China's macroeconomic policies between 2000 and 2015, including capital controls, interest rate policy, exchange rate policy and fiscal...

Persistent link: https://www.econbiz.de/10014366828

The Transmission of External Shocks in Asia : Country Characteristics and Policy Responses

Deb, Pragyan; Nadeem, Sanaa; Peiris, Shanaka - 2021

Asian economies are increasingly integrated to the global economy through trade and financial linkages, exposing them to the international financial cycle. This paper explores how external shocks are transmitted to Asian economies and whether the use of policies, such as the monetary policy...

Persistent link: https://www.econbiz.de/10013238139

Bank Balance Sheets and External Shocks in Asia : The Role of Fxi, Mpms and Cfms

Chen, Zefeng; Nadeem, Sanaa; Peiris, Shanaka - 2021

by banks and investment. For example, a capital outflow shock leads to a deprecation that reduces the net worth and … intermediation capacity of banks exposed to foreign currency liabilities. In such cases, the exchange rate acts as shock amplifier … exchange rate serves as a shock absorber, and any FXI that weakens that function can be costly. We also explore the …

Persistent link: https://www.econbiz.de/10013243072

Are all types of capital flows driven by the same factors? : evidence from Mexico

Ibarra-Ramírez, Raúl; Isela-Elizabeth, Téllez-León - 2017

sector securities. An increase in global risk generates lower portfolio investment, particularly in private sector securities …

Persistent link: https://www.econbiz.de/10011729176

Estimating the Impact of External Shocks on the ECCU : Application to the COVID Shock

Parlak, Vivian; Salinas, Gonzalo; Vargas, Jose - 2022

We measure the impact of frequent exogeneous shocks on small ECCU economies, including changes to global economic activity, tourism flows, oil prices, passport sales, FDI, and natural disasters. Using Canonical-Correlation Analysis (CCA) and dynamic panel regression analysis we find significant...

Persistent link: https://www.econbiz.de/10013306756

Current Accounts, Net Foreign Assets and the Implications of Cyclical Factors

Bussière, Matthieu; Chortareas, Georgios E.; Driver, … - 2005

foreign asset position, so that agents invest abroad any savings generated by a positive income shock. On the other hand, a …' portfolios. If investment risk is high and diminishing returns are weak, then savings from temporary income shocks may, in fact … temporary shock. We estimate a model that explicitly allows for the possibility that the impact of initial portfolio allocation …

Persistent link: https://www.econbiz.de/10014087338