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:	Capital movements.

Table of Contents:

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.
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.

Taming the Tide of Capital Flows : a Policy Guide.

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