Title Managing external volatility [electronic resource] : policy frameworks in non-reserve issuing economies / by Helene Poirson Ward [and fourteen others].
Imprint [Washington, D.C.] : International Monetary Fund, 2020.©2020
Author Poirson, Helene. author.
International Monetary Fund. issuing body.
Date 01-01-2020
Physical description 1 online resource (42 pages).
online resource
Series IMF working paper ; no. 20/288
IMF working paper ; no. 20/288.
Item WEB (Copy 1) INTRANET 1268371-1001 ONLINE
URL Available from internal network: http://err.parl.net/client/en_GB/search/asset/83757/0
Major subject Monetary policy
Foreign exchange controls
Minor subject Economic models
Overseas item
Notes "December 2020"
Includes bibliographical references.
ISBN 9781513564562
Abstract Since the global financial crisis, non-reserve-issuing economies (NREs) have been highly sensitive to episodes of external pressures. With monetary policy independence constrained by this sensitivity, many NREs have utilized other policy instruments. This paper confirms the vulnerability of NREs to external shocks and finds that in some circumstances managing such shocks with multiple instruments can both lessen the policy response required from any one policy tool to financial and external shocks and increase the effectiveness of policies in stabilizing macro-financial conditions. Effectiveness however does not always imply appropriateness, which rests on an evaluation of potential trade-offs and unintended consequences.
LCN 1268371
Item ID 1268371-1001
Database Library Catalogue