In May 2013, Federal Reserve officials first began to talk of the possibility of the US central bank tapering its securities purchases from $85 billion a month to something lower. A milestone to which many observers point is 22 May 2013, when Chairman Bernanke raised the possibility of tapering in his testimony to Congress.
Tapering talk: The impact of expectations of reduced Federal Reserve security purchases on emerging markets
Barry Eichengreen, Poonam Gupta, 19 December 2013
Capital inflows and booms in asset prices: Going beyond the current account
Eduardo Olaberría, 7 December 2013
For decades, policymakers’ perception has been that large capital inflows can fuel booms in asset prices. If this were true, bonanzas in capital inflows would imply an important risk to financial stability, since booms in asset prices are leading indicators of financial crises.
Low interest rates and housing booms: The role of capital inflows, monetary policy, and financial innovation
Filipa Sá, Pascal Towbin, Tomasz Wieladek, 10 March 2011
The run-up to the recent global financial crisis was characterised by an environment of low interest rates and a rapid increase in housing market activity across OECD countries.
The recent surge in capital inflows and policy options for India
Dayanand Arora, Francis Xavier Rathinam , Shuheb Khan, 3 July 2010
Once again, many emerging economies are grappling with a surge in net capital inflows, particularly through increased foreign portfolio investment. And again, managing these volatile capital inflows is back on the policy agenda. This time round, the need for a debate on policy options has gained added fervour because of the changes in the views of the IMF on capital controls.
Managing capital inflows: Emerging Europe is different, again
Johan Mathisen, Srobona Mitra, 25 May 2010
Capital inflows were larger in emerging Europe and fell more severely during the crisis than in other emerging economies (IMF 2010). Prior to the crisis, cross-border loans from Western European parent banks to their emerging European affiliates accounted for most of the difference (Figure 1).
- Predicting economic turning pointsAhir, Loungani
- How rich nations benefit from EU membershipCampos, Coricelli, Moretti
- The chartbook of economic inequalityAtkinson, Morelli
- Taxing, spending, and inequalityClements, Coady, de Mooij, Gupta
- How poorer nations benefit from EU membershipCampos, Coricelli, Moretti
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Claessens, 18 April 2014
Campos, Coricelli, Moretti
Ostry, Berg, Tsangarides