Monetary and Macroprudential Policies to Manage Capital Flows is popular PDF and ePub book, written by Juan Pablo Medina Guzman in 2014-02-12, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Monetary and Macroprudential Policies to Manage Capital Flows can be Read Online from any device for your convenience.
Monetary and Macroprudential Policies to Manage Capital Flows Book PDF Summary
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.
Detail Book of Monetary and Macroprudential Policies to Manage Capital Flows PDF
- Author : Juan Pablo Medina Guzman
- Release : 12 February 2014
- Publisher : International Monetary Fund
- ISBN : 9781484302873
- Genre : Business & Economics
- Total Page : 44 pages
- Language : English
- PDF File Size : 11,6 Mb
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