Exchange Rate Flexibility and Credit during Capital Inflow Reversals: Purgatory…not Paradise

Exchange Rate Flexibility and Credit during Capital Inflow Reversals: Purgatory…not Paradise
We document the behavior of macro and credit variables during episodes of capital inflows reversals in economies with different degrees of exchange rate flexibility. We find that exchange rate flexibility is associated with milder credit growth during the boom but, even though smaller than in more rigid regimes, it cannot shield the economy from... READ MORE...

Publication date: April 2014
ISBN 9781475543735
$18.00

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