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Capital Mobility And Monetary Policy In Colombia
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Book Synopsis Capital Mobility and Monetary Policy in Colombia by : International Monetary Fund
Download or read book Capital Mobility and Monetary Policy in Colombia written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-08-09 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates a model of financial markets in Colombia to examine: 1) the authorities’ control over domestic interest rates and the money stock; and 2) the effects of the crawling peg exchange rate policy on exchange rate expectations and domestic interest rates. The authorities appeared to possess some control over the money stock in the short run, mostly because of the existence of capital controls, but most of this control was eroded once asset demands adjust to their desired banks. The expected rate of depreciation is not closely linked to the crawling peg.
Book Synopsis Capital Mobility and Monetary Policy in Colombia by : Robert K. Rennhack
Download or read book Capital Mobility and Monetary Policy in Colombia written by Robert K. Rennhack and published by . This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates a model of financial markets in Colombia to examine: 1) the authorities` control over domestic interest rates and the money stock; and 2) the effects of the crawling peg exchange rate policy on exchange rate expectations and domestic interest rates. The authorities appeared to possess some control over the money stock in the short run, mostly because of the existence of capital controls, but most of this control was eroded once asset demands adjust to their desired banks. The expected rate of depreciation is not closely linked to the crawling peg.
Book Synopsis Capital Mobility and Monetary Policy in Colombia by : Guillermo Mondino
Download or read book Capital Mobility and Monetary Policy in Colombia written by Guillermo Mondino and published by . This book was released on 1988 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Are Capital Controls Effective in the 21st Century? The Recent Experience of Colombia by : Herman Kamil
Download or read book Are Capital Controls Effective in the 21st Century? The Recent Experience of Colombia written by Herman Kamil and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-02-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate dynamics. The results suggest that the controls were successful in reducing external borrowing, but had no statistically significant impact on the volume of non- FDI flows as a whole. We find no evidence that restrictions to capital mobility moderated the appreciation of Colombia's currency, or increased the degree of independence of monetary policy. We also find that controls have significantly increased the volatility of the exchange rate. Additional research is needed to assess the effects of capital controls on financial stability.
Book Synopsis Are Price-based Capital Account Regulations Effective in Developing Countries? by : Antonio C. David
Download or read book Are Price-based Capital Account Regulations Effective in Developing Countries? written by Antonio C. David and published by World Bank Publications. This book was released on 2007 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-term capital flows but did not affect long-term flows. As far as Colombia is concerned, the regulations were capable of affecting total flows and also long-term ones. In addition, the co-integration models indicate that the regulations did not have a direct effect on the real exchange rate in the Chilean case. Nonetheless, the model used for Colombia did detect a direct impact of the capital controls on the real exchange rate. Therefore, the results do not seem to support the idea that those regulations were easily evaded.
Book Synopsis Capital Account Regimes and the Developing Countries by : Gerald K. Helleiner
Download or read book Capital Account Regimes and the Developing Countries written by Gerald K. Helleiner and published by Springer. This book was released on 2016-07-27 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative assessment of the debate over the role of volatile private capital flows and their impact on developing countries. The book outlines the long history of concern about these issues, going back to preparations for the Bretton Woods agreement. It assesses their acceleration with the growth of international capital and looks at key case studies from Latin America, Asia and Africa to assess the possibilities and problems for national and international policy responses.
Book Synopsis CAPITAL MOBILITY AND MONETARY IN COLOMBIA by : Robert K. RENNHACK
Download or read book CAPITAL MOBILITY AND MONETARY IN COLOMBIA written by Robert K. RENNHACK and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Large Capital Flows by : Mr.Alejandro Lopez Mejia
Download or read book Large Capital Flows written by Mr.Alejandro Lopez Mejia and published by International Monetary Fund. This book was released on 1999-02-01 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the causes, consequences, and policy responses to large capital flows in several emerging markets. It opens by studying recent patterns of capital flows, and then discusses the causes of capital flows. Emphasis is given to the reasons behind the capital inflow episode in the 1990s, the major reversals, and the volatility observed in these flows. The paper goes on to examine the consequences of capital inflows and the pros and cons of alternative policy responses. It concludes with policy lessons derived from country experiences.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1498346405 Total Pages :74 pages Book Rating :4.4/5 (983 download)
Book Synopsis Increasing Resilience to Large and Volatile Capital Flows by : International Monetary Fund. Asia and Pacific Dept
Download or read book Increasing Resilience to Large and Volatile Capital Flows written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2017-09-13 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Book Synopsis Monetary Policies and Inflation Targeting in Emerging Economies by : de Mello Luiz
Download or read book Monetary Policies and Inflation Targeting in Emerging Economies written by de Mello Luiz and published by OECD Publishing. This book was released on 2008-04-15 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, based on the proceedings of a conference organised by the OECD and the Bank of England's Centre for Banking Studies, examines cross-country issues related to the conduct of monetary policy in emerging markets and the role of inflation targeting in improving macroeconomic performance.
Book Synopsis International Capital Flows by : Martin Feldstein
Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Book Synopsis Managing Capital Flows and Exchange Rates by : Reuven Glick
Download or read book Managing Capital Flows and Exchange Rates written by Reuven Glick and published by Cambridge University Press. This book was released on 1998-06-13 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a very timely book that brings the reader to the forefront of current research on macroeconomic policy issues in economies subject to sizable capital flows".--Guillermo A. Calvo, University of Maryland.
Book Synopsis The Influence of External Factors on Monetary Policy Frameworks and Operations by :
Download or read book The Influence of External Factors on Monetary Policy Frameworks and Operations written by and published by . This book was released on 2011 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries by : International Monetary Fund
Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Book Synopsis Exchange Rates, Capital Flows, and Monetary Policy in a Changing World Economy by : William C. Gruben
Download or read book Exchange Rates, Capital Flows, and Monetary Policy in a Changing World Economy written by William C. Gruben and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.
Book Synopsis Inflation Targeting and Exchange Rate Management In Less Developed Countries by : Mr.Marco Airaudo
Download or read book Inflation Targeting and Exchange Rate Management In Less Developed Countries written by Mr.Marco Airaudo and published by International Monetary Fund. This book was released on 2016-03-08 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze coordination of monetary and exchange rate policy in a two-sector model of a small open economy featuring imperfect substitution between domestic and foreign financial assets. Our central finding is that management of the exchange rate greatly enhances the efficacy of inflation targeting. In a flexible exchange rate system, inflation targeting incurs a high risk of indeterminacy where macroeconomic fluctuations can be driven by self-fulfilling expectations. Moreover, small inflation shocks may escalate into much larger increases in inflation ex post. Both problems disappear when the central bank leans heavily against the wind in a managed float.
Book Synopsis Morocco: A Practical Approach to Monetary Policy Analysis in a Country with Capital Controls by : Mokhtar Benlamine
Download or read book Morocco: A Practical Approach to Monetary Policy Analysis in a Country with Capital Controls written by Mokhtar Benlamine and published by International Monetary Fund. This book was released on 2018-02-14 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Central Bank of Morocco has been working on developing a Forecasting and Policy Analysis System (FPAS) to support a gradual move toward a more flexible exchange rate regime and the eventual adoption of a full-fledged inflation-targeting (IT) regime. At the center of the FPAS is a quarterly projection model that was tailored for two different types of exchange rate regimes. Presently, the fixed exchange rate model version is to be used during the pre-IT period, while the flexible exchange rate model version is to be used to prepare alternative scenarios for monetary policy decision makers to discuss the potential policy implications of shocks under an IT regime.
