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Asset Prices and Current Account Fluctuations in G-7 Economies

Asset Prices and Current Account Fluctuations in G-7 Economies »

Source: IMF Staff Papers, Volume 56, No. 3

Volume: 56

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 July 2009

ISBN: 9781589068209

Keywords: trade openness, trade liberalization, import duties, transition economies, trade barriers

Studies of the impact of trade openness on growth are based either on crosscountry analysis—which lacks transparency—or case studies—which lack statistical rigor. This paper applies a transpare...

Capital Controls or Macroprudential Regulation?

Capital Controls or Macroprudential Regulation? »

Source: Capital Controls or Macroprudential Regulation?

Volume/Issue: 2015/218

Series: IMF Working Papers

Author(s): Anton Korinek , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

ISBN: 9781513506463

Keywords: pecuniary externalities, macroprudential regulation, inequality, exchange rate, exchange, lenders, borrowers, markets, International Lending and Debt Problems, Open Economy Macroeconomics

International capital flows can create significant financial instability in emerging economies because of pecuniary externalities associated with exchange rate movements. Does this make it optimal to impose capital...

Capital Flow Deflection*

Capital Flow Deflection* »

Source: Capital Flow Deflection

Volume/Issue: 2014/145

Series: IMF Working Papers

Author(s): Paolo Giordani , Michele Ruta , Hans Weisfeld , and Ling Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 August 2014

ISBN: 9781498383202

Keywords: cross-border spillovers, policy response, capital flow, capital inflow, General, International Relations and International Political Economy: General,

This paper focuses on the coordination problem among borrowing countries imposing controls on capital infl ows. In a simple model of capital flows and controls, we show that inflow restrictions distort internation...

Capital Flows and Financial Stability

Capital Flows and Financial Stability »

Source: Capital Flows and Financial Stability : Monetary Policy and Macroprudential Responses

Volume/Issue: 2011/189

Series: IMF Working Papers

Author(s): Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2011

ISBN: 9781462307272

Keywords: macroprudential policies, inflation, capital goods, Open Economy Macroeconomics,

The resumption of capital flows to emerging market economies since mid 2009 has posed two sets of interrelated challenges for policymakers: (i) to prevent capital flows from exacerbating overheating pressures and c...

Capital Flows to EU New Member States

Capital Flows to EU New Member States »

Source: Capital Flows to EU New Member States : Does Sector Destination Matter?

Volume/Issue: 2011/67

Series: IMF Working Papers

Author(s): Pritha Mitra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455228034

Keywords: Crisis, and Slovak Republic., real estate, capital inflows, net capital flows, International Finance: General, Open Economy Macroeconomics, And Slovak Republic,

The recent boom-bust episode in Emerging Europe was largely the product of surges and sudden stops in capital inflows. This paper empirically argues that the sectors into which capital flows determines their impact...

Challenging the Empirical Evidence From Present Value Models of the Current Account

Challenging the Empirical Evidence From Present Value Models of the Current Account »

Source: Challenging the Empirical Evidence From Present Value Models of the Current Account

Volume/Issue: 2004/106

Series: IMF Working Papers

Author(s): Jacques Miniane , and Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451852929

Keywords: present value model, model evaluation, correlation, probability, covariance, statistic, Bayesian Analysis, Model Evaluation and Selection, Open Economy Macroeconomics,

Under near-singularity conditions typically generated by persistence in current account data the predictions of present value models become extremely sensitive to small sample estimation error. Moreover, traditiona...

Chapter 8. Capital Account Opening and Capital Flow Management

Chapter 8. Capital Account Opening and Capital Flow Management »

Source: Modernizing China : Investing in Soft Infrastructure

Series: Books

Author(s): W. Raphael Lam , Markus Rodlauer , and Alfred Schipke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 January 2017

ISBN: 9781513539942

Keywords: Economic reforms, reforms, economic success, growth model, policy frameworks, markets, market economy, soft infrastructure, institutions, rebalancing

China is the world’s leading trading nation. Yet, remarkably, it is much less well integrated with the global financial system, and the country’s extensive controls on international capital flows are an impo...

Chapter 10: Determinants of Capital Flows

Chapter 10: Determinants of Capital Flows »

Source: Realizing Indonesia's Economic Potential

Series: Books

Author(s): Luis Breuer , Jaime Guajardo , and Tidiane Kinda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2018

ISBN: 9781484337141

Keywords: Indonesia, Indonesia's economy

Introduction Both the volume and the composition of capital inflows to Indonesia have evolved since the global financial crisis. 1 The increased vol...

Consumption-Based Interest Rate and the Present-Value Model of the Current Account-Evidence from Nigeria

Consumption-Based Interest Rate and the Present-Value Model of the Current Account-Evidence from Nigeria »

Source: Consumption-Based Interest Rate and the Present-Value Model of the Current Account-Evidence from Nigeria

Volume/Issue: 2001/93

Series: IMF Working Papers

Author(s): Olumuyiwa Adedeji

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

ISBN: 9781451851656

Keywords: Present-value model, consumption-based interest rate, current account, current account balance, current accounts, external shocks, balance of payments, Open Economy Macroeconomics,

This paper presents a model of current account determination, based upon the permanent-income hypothesis. A present-value relationship among the current account, changes in net output, the exchange rate and the ter...

Current Account and Real Exchange Rate Dynamics in the G-7 Countries

Current Account and Real Exchange Rate Dynamics in the G-7 Countries »

Source: Current Account and Real Exchange Rate Dynamics in the G-7 Countries

Volume/Issue: 2002/130

Series: IMF Working Papers

Author(s): Menzie Chinn , and Jaewoo Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2002

ISBN: 9781451855203

Keywords: real exchange rate, intertemporal models, permanent and temporary shocks, exchange rate, current account balance, exchange rates, Open Economy Macroeconomics,

The canonical predictions of intertemporal open-economy macro models are tested by a structural VAR analysis of Group of Seven countries. The analysis is distinguished from the previous literature in that it adopts...