Taming the Tide of Capital Flows : a Policy Guide.

A comprehensive examination of policy measures intended to help emerging markets contend with large and volatile capital flows.

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Bibliographic Details
Online Access: Full Text (via ProQuest)
Main Author: Ghosh, Atish R.
Other Authors: Ostry, Jonathan D., Qureshi, Mahvash S.
Format: eBook
Language:English
Published: Cambridge : MIT Press, 2018.
Subjects:

MARC

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505 0 |a Intro -- Contents -- Preface -- I: Overview -- 1. Introduction -- 1.1 Capital Flows: A Snapshot -- 1.2 Managing Capital Flows -- 1.3 The Book -- 2. Regulating Capital Flows: A Historical Perspective -- 2.1 Introduction -- 2.2 Capital Flows in the Long Run -- 2.3 The Academic Literature -- 2.4 Conclusion -- II: Surges and Consequences -- 3. Surges -- 3.1 Introduction -- 3.2 Some Stylized Facts -- 3.3 Occurrence of Surges -- 3.4 Magnitude of Flows during Surges -- 3.5 Asset- versus Liability-Flow Surges -- 3.6 Conclusion -- Chapter 3 Appendix -- 4. Consequences and Crashes -- 4.1 Introduction -- 4.2 Macroeconomic and Financial Vulnerabilities -- 4.3 Crisis Likelihood -- 4.4 Surges, Soft Landings, and Crashes -- 4.5 Conclusion -- Chapter 4 Appendix -- III: Policy Framework -- 5. Managing Macroeconomic Imbalances: A Simple Model -- 5.1 Introduction -- 5.2 The Model -- 5.3 Initial Equilibrium -- 5.4 Capital Inflow Shock -- 5.5 Effects of Policies -- 5.6 Unavailability of Conventional Policy Instruments and the Use of Cyclical Capital Controls -- 5.7 Conclusion -- 6. Should Inflation Targeters Intervene in the Foreign Exchange Market? -- 6.1 Introduction -- 6.2 The Setup -- 6.3 Discretion versus Inflation Targeting: The Policy Interest Rate -- 6.4 Discretion versus Inflation Targeting: The Policy Rate and FX Intervention -- 6.5 Comparison of Regimes -- 6.6 Some Simulations -- 6.7 FX Intervention: Welfare Gains -- 6.8 Expanding the Policy Tool Kit -- 6.9 Conclusion -- 7. Balance-sheet Vulnerabilities -- 7.1 Introduction -- 7.2 Riskiness of External Liabilities -- 7.3 A Welfare-Theoretic Framework -- 7.4 Capital Controls versus Prudential Measures -- 7.5 Conclusion -- Chapter 7 Appendix: Risk-Sharing Characteristics of External Liabilities -- 8. What Do Countries Do? -- 8.1 Introduction -- 8.2 Macroeconomic Policy Response. 
505 8 |a 8.3 Macroeconomic Policy Response by Type of Flow -- 8.4 Macroprudential Measures and Capital Controls -- 8.5 Policy Combinations -- 8.6 Conclusion -- Chapter 8 Appendix -- IV: Policy Considerations -- 9. Effectiveness of Policy Instruments -- 9.1 Introduction -- 9.2 Sterilized FX Intervention -- 9.3 Macroprudential Measures -- 9.4 Capital Controls -- 9.5 Conclusion -- Chapter 9 Appendix -- 10. Multilateral Considerations -- 10.1 Introduction -- 10.2 Analytical Framework -- 10.3 Some Empirics -- 10.4 Conclusion -- Chapter 10 Appendix -- 11. Toward the Policy Maker's Vade Mecum -- 11.1 Introduction -- 11.2 Responding to Capital Inflows: Overarching Considerations -- 11.3 Macroeconomic Imbalances -- 11.4 Balance-sheet Vulnerabilities -- 11.5 Conclusion -- 12 Concluding Thoughts -- Data Appendix -- Glossary -- References -- Index. 
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