Shocks Matter: Managing Capital Flows with Multiple Instruments in Emerging Economies

Shocks Matter: Managing Capital Flows with Multiple Instruments in Emerging Economies
We study the optimal management of capital flows in a small open economy model with financial frictions and multiple policy instruments. The paper reports two main findings. First, both foreign exchange intervention (FXI) and macroprudential polices are tools complementary to the monetary policy rate that can largely reduce inflation and output... READ MORE...

Publication date: June 2020
ISBN 9781513545684
$18.00

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