Capital Flows at Risk : Taming the Ebbs and Flows /

The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks are most effective in dampening sharp capital flow movements in response to global shoc...

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Detalhes bibliográficos
Autor principal: Gelos, R.
Outros Autores: Gornicka, Lucyna, Koepke, Robin, Sahay, Ratna
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 2019.
Colecção:IMF Working Papers; Working Paper ; No. 2019/279
Acesso em linha:Full text available on IMF
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100 1 |a Gelos, R. 
245 1 0 |a Capital Flows at Risk :   |b Taming the Ebbs and Flows /  |c R. Gelos, Lucyna Gornicka, Robin Koepke, Ratna Sahay. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2019. 
300 |a 1 online resource (44 pages) 
490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks are most effective in dampening sharp capital flow movements in response to global shocks? What are the near- versus medium-term trade-offs of different policies? We tackle these questions using a quantile regression framework to predict the entire future probability distribution of capital flows to emerging markets, based on current domestic structural characteristics, policies, and global financial conditions. This new approach allows policymakers to quantify capital flows risks and evaluate policy tools to mitigate them, thus building the foundation of a risk management framework for capital flows. 
538 |a Mode of access: Internet 
700 1 |a Gornicka, Lucyna. 
700 1 |a Koepke, Robin. 
700 1 |a Sahay, Ratna. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2019/279 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2019/279/001.2019.issue-279-en.xml  |z IMF e-Library