Monetary and macroprudential policies to manage capital flows /
Saved in:
| Author / Creator: | Medina Guzman, Juan Pablo, 1971- author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2014. |
| Description: | 1 online resource (44 pages) |
| Language: | English |
| Series: | IMF working paper ; WP/14/30 IMF working paper ; WP/14/30. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12502637 |
MARC
| LEADER | 00000cam a2200000 a 4500 | ||
|---|---|---|---|
| 001 | 12502637 | ||
| 006 | m o d | ||
| 007 | cr |n||||||||| | ||
| 008 | 140321s2014 dcu ob i000 0 eng d | ||
| 005 | 20240822221801.1 | ||
| 020 | |a 1306513480 |q (ebk) | ||
| 020 | |a 9781306513487 |q (ebk) | ||
| 020 | |a 9781484302873 | ||
| 020 | |a 1484302877 | ||
| 020 | |a 9781484303542 | ||
| 020 | |a 1484303547 | ||
| 035 | 9 | |a (OCLCCM-CC)874096747 | |
| 035 | |a (OCoLC)874096747 | ||
| 037 | |a 582599 |b MIL | ||
| 040 | |a IDEBK |b eng |e pn |c IDEBK |d EBLCP |d MHW |d DJB |d E7B |d DEBSZ |d OCLCO |d OCLCQ |d YDXCP |d OCLCF |d OCLCQ |d MERUC |d OCLCQ |d CEF |d AU@ |d OCLCQ |d CUS |d VT2 |d OCLCQ |d OCLCO |d OCLCQ |d OCLCO | ||
| 049 | |a MAIN | ||
| 050 | 4 | |a HB3722 | |
| 100 | 1 | |a Medina Guzman, Juan Pablo, |d 1971- |e author. |0 http://id.loc.gov/authorities/names/no2005009315 | |
| 245 | 1 | 0 | |a Monetary and macroprudential policies to manage capital flows / |c prepared by Juan Pablo Medina and Jorge Roldós. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2014. | ||
| 300 | |a 1 online resource (44 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/14/30 | |
| 500 | |a At head of title: IMF Institute for Capacity Development. | ||
| 504 | |a Includes bibliographical references. | ||
| 520 | |a "We study interactions between monetary and macroprudential policies in a model with nominal and financial frictions. The latter derive from a financial sector that provides credit and liquidity services that lead to a financial accelerator-cum-fire-sales amplification mechanism. In response to fluctuations in world interest rates, inflation targeting dominates standard Taylor rules, but leads to increased volatility in credit and asset prices. The use of a countercyclical macroprudential instrument in addition to the policy rate improves welfare and has important implications for the conduct of monetary policy. "Leaning against the wind" or augmenting a standard Taylor rule with an argument on credit growth may not be an effective policy response"--Abstract | ||
| 588 | 0 | |a Online resource; title from digital title page (IMF.org web site, viewed March 28, 2014). | |
| 505 | 0 | |a Cover; Contents; I. Introduction; Figures; Figure 1. Interest Rates and Reserve Requirements in Selected Emerging Markets; II. Model Economy; A. Households; B. Production and Capital Accumulation; C. Financial Sector; Figure 2. Timing of Events; D. Aggregation and Price Rigidities; Figure 3. Liquidity Intermediary Allocation Problem; E. Alternative Monetary and Macro-Prudential Frameworks; III. Baseline Calibration and Welfare Analysis Methodology; IV. Policy Responses to Capital Inflows and Reversals; Figure 4. Expected and Materialized Path for the Foreign Interest Rate; Tables. | |
| 505 | 8 | |a Table 1. Welfare Comparison between the standard Taylor Type Rule and the Inflation Targeting RegimeFigure 5. Comparing the Responses under Natural, Taylor Type Rule, and IT Regime; Table 2. Welfare Comparison between Inflation Targeting (IT) Regime and the Augmented Taylor Type Rule; Figure 6. Comparing the Responses under Natural, IT Regime, and Augmented Taylor; Figure 7. Comparing Responses under IT Regime, Taylor Type Rules, and Countercyclical Reserve Requirement; V. Robustness; A. Foreign Borrowing and Dollarization. | |
| 505 | 8 | |a Table 3. Welfare Comparison between the Augmented Taylor Type Rule and the Inflation Targeting with Countercyclical Reserve RequirementTable 4. Welfare Comparison with Foreign Borrowing; Figure 8. The Role of Direct Foreign Funding for Lending Intermediaries and Entrepreneurs; Figure 9. The Role of Partial Dollarization in the Entrepreneurs' Loan; B. Wage Rigidities; Table 5. Welfare Comparison with Partial Dollarization in the Entrepreneurs' Loans; Table 6. Welfare Comparison with Wage Rigidities; Figure 10. The Role of Wage Rigidities; C. Larger Excess Reserves. | |
| 505 | 8 | |a Table 7. Welfare Comparison with Higher Excess ReservesFigure 11. The Role of Higher Excess Reserves; VI. Conclutions; References; Appendixes; Appendix I. The Lending Problem; Appendix II. The Problem of Liquidity Intermediaries; Appendix III. Price Rigidities, the Phillips Curve, and Aggregation of Final Goods Demand; Appendix IV. Complete Set of Equilibrium Conditions; Appendix V. Extension with Foreign Funding for Lending Intermediaries and Entrepreneurs; Appendix VI. Financial Dollarization of the Entrepreneurs' Loans. | |
| 650 | 0 | |a Monetary policy |x Econometric models. | |
| 650 | 0 | |a Capital movements |x Econometric models. | |
| 650 | 6 | |a Politique monétaire |x Modèles économétriques. | |
| 650 | 6 | |a Mouvements de capitaux |x Modèles économétriques. | |
| 650 | 7 | |a Capital movements |x Econometric models. |2 fast |0 (OCoLC)fst00846376 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 655 | 0 | |a Electronic books. | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Roldós, Jorge E., |d 1958- |e author. |0 http://id.loc.gov/authorities/names/no94000321 | |
| 830 | 0 | |a IMF working paper ; |v WP/14/30. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2014/030/001.2014.issue-030-en.xml |y INTERNATIONAL MONETARY FUND |
| 929 | |a oclccm | ||
| 999 | f | f | |i c514fd19-c839-5a0f-a5ff-20f0f44e80ee |s 6039ac10-4854-5dcd-88f5-3bff5c4af16a |
| 928 | |t Library of Congress classification |a HB3722 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2014/030/001.2014.issue-030-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12146897 | ||