Shocks Matter : Managing Capital Flows with Multiple Instruments in Emerging Economies /
We study the optimal management of capital flows in a small open economy model with financial frictions and multiple policy instruments. The paper reports two main findings. First, both foreign exchange intervention (FXI) and macroprudential polices are tools complementary to the monetary policy rat...
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| Médium: | Časopis |
| Jazyk: | English |
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Washington, D.C. :
International Monetary Fund,
2020.
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| Edice: | IMF Working Papers; Working Paper ;
No. 2020/097 |
| On-line přístup: | Full text available on IMF |