The Pre-Crisis Capital Flow Surge to Emerging Europe : Did Countercyclical Fiscal Policy Make a Difference? »
Series: IMF Working Papers
Author(s): Ruben Atoyan , Dustin Smith , and Albert Jaeger
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2012
Keywords: absorption boom, capital inflows, private capital inflows, private capital, Model Evaluation and Selection,
A push-pull-brake model of capital flows is used to study the effects of fiscal policy changes on private capital flows to emerging Europe during 2000-07. In the model, countercyclical fiscal policy has two opposin...