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International Capital Flow Pressures

2018-02-16 Business & Economics
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Release : 2018-02-16
Genre : Business & Economics
Kind : eBook
Book Rating : 720/5 ( reviews)

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Book Synopsis International Capital Flow Pressures by : Ms.Linda S. Goldberg

Download or read book International Capital Flow Pressures written by Ms.Linda S. Goldberg. This book was released on 2018-02-16. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new measure of capital flow pressures in the form of a recast Exchange Market Pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international asset portfolio considerations. Based on the modified exchange market pressure index, the paper also proposes the Global Risk Response Index, which reflects the country-specific sensitivity of capital flow pressures to measures of global risk aversion. For a large sample of countries over time, we demonstrate time variation in the effects of global risk on exchange market pressures, the evolving importance of the global factor across types of countries, and the changing risk-on or risk-off status of currencies.

International Capital Flow Pressures and Global Factors

2023 Capital movements
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Release : 2023
Genre : Capital movements
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis International Capital Flow Pressures and Global Factors by : Linda S. Goldberg

Download or read book International Capital Flow Pressures and Global Factors written by Linda S. Goldberg. This book was released on 2023. Available in PDF, EPUB and Kindle. Book excerpt: "The risk sensitivity of international capital flow pressures is explored using a new Exchange Market Pressure index that combines pressures observed in exchange rate adjustments with model-based estimates of incipient pressures that are masked by foreign exchange interventions and policy rate adjustments. The sensitivity of capital flow pressures to risk sentiment including for so-called safe haven currencies, evolves over time, varies significantly across countries, and differs between normal time and extreme stress events. Across countries, risk sensitivities and safe haven status are associated with self-fulfilling exchange rate expectations and carry trade funding currencies. In contrast, association with more traditional macroeconomic country characteristics is weak."--Abstract.

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

2015-07-16 Business & Economics
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Release : 2015-07-16
Genre : Business & Economics
Kind : eBook
Book Rating : 843/5 ( reviews)

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Book Synopsis Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? by : Mr.Olivier J. Blanchard

Download or read book Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? written by Mr.Olivier J. Blanchard. This book was released on 2015-07-16. Available in PDF, EPUB and Kindle. Book excerpt: Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, we study whether FXI has been an effective tool to dampen the effects of these inflows on the exchange rate. To deal with endogeneity issues, we look at the response of different countries to plausibly exogenous gross inflows, and explore the cross country variation of FXI and exchange rate responses. Consistent with the portfolio balance channel, we find that larger FXI leads to less exchange rate appreciation in response to gross inflows.

Managing Capital Flows and Exchange Rates

1998-06-13 Business & Economics
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Release : 1998-06-13
Genre : Business & Economics
Kind : eBook
Book Rating : 230/5 ( reviews)

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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. This book was released on 1998-06-13. 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.

Exchange Market Pressures and Speculative Capital Flows

1994
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Release : 1994
Genre :
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Book Synopsis Exchange Market Pressures and Speculative Capital Flows by : I. Otker

Download or read book Exchange Market Pressures and Speculative Capital Flows written by I. Otker. This book was released on 1994. Available in PDF, EPUB and Kindle. Book excerpt:

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