Series: IMF Working Papers
Author(s): Balazs Csonto , and Camilo Tovar Mora
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 26 July 2017
Keywords: International financial markets, Central banks and their policies, Uphill capital flows, yield curve, term premium, US Treasuries, reserve accumulation, foreign holdings, Financial Markets and the Macroeconomy, International Policy Coordination and Transmission
Uphill capital flows constitute a key transmission channel through which reserve accumulation can distort the stability of the international monetary system. This paper examines and quantifies the importance of thi...