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|z 9781498375429
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|a 1018-5941
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|a Ozkan, F. Gulcin.
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|a On the use of Monetary and Macroprudential Policies for Small Open Economies /
|c F. Gulcin Ozkan, Filiz Unsal.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2014.
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|a 1 online resource (34 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We explore optimal monetary and macroprudential policy rules for a small open economy. Delegating 'lean against the wind' squarely to macroprudential policy provides a more robust policy mix to shock uncertainty-(i) if macroprudential measures exist, there are no significant welfare gains from monetary policy reacting to credit growth under a financial shock; and (ii) monetary responses to financial markets could generate bigger welfare losses than macroprudential responses under different shocks. The source of outstanding liabilities also plays a role in the choice of policy instrument- macroprudential policies are particularly effective for emerging markets where foreign borrowing is sizeable.
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|a Mode of access: Internet
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|a Unsal, Filiz.
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|a IMF Working Papers; Working Paper ;
|v No. 2014/112
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2014/112/001.2014.issue-112-en.xml
|z IMF e-Library
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