The Leading eBooks Store Online 4,272,009 members ⚫ 1,419,367 ebooks

New to eBooks.com?

Learn more

Balance of Payments Anti-Crises

Balance of Payments Anti-Crises by Isabel K. Yan
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
Several emerging economies have, until recently, experienced large government surpluses and accelerating foreign exchange reserve accumulation. This has been accompanied by economic booms, exchange rate appreciations and in some cases increases in domestic inflation. We show that one way to understand these episodes is as manifestations of balance of payments anti-crises, as reflecting the perception that the government intends to discontinue its accumulation of reserves in the near future. The end-phase of such crises is characterized by nominal interest rates approaching their zero lower bound in accelerating fashion and, if the government targets CPI inflation, by fast increasing domestic inflation.
International Monetary Fund; June 2009
22 pages; ISBN 9781452734934
Read online, or download in secure EPUB or secure PDF format
Title: Balance of Payments Anti-Crises
Author: Isabel K. Yan; Michael Kumhof
 
ISBNs
1451917104
9781451872811
9781451917109
9781452734934