Are Capital Inflows Expansionary or Contractionary? : Theory, Policy Implications, and Some Evidence /
The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising output, and the evidence appears to go their way. To reconci...
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| 其他作者: | , , |
| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2015.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2015/226 |
| 在线阅读: | Full text available on IMF |