Monetary and macroprudential policies to manage capital flows /
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Author / Creator: | Medina Guzman, Juan Pablo, 1971- author. |
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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 |
Table of Contents:
- 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.
- 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.
- 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.
- 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.