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

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence
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 reconcile theory and reality, we extend the set of... READ MORE...

Publication date: October 2015
ISBN 9781513500805
$18.00

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