The Resource If the Fed acts, how do you react? : the liftoff effect on capital flows, prepared by Swarnali Ahmed

If the Fed acts, how do you react? : the liftoff effect on capital flows, prepared by Swarnali Ahmed

Label
If the Fed acts, how do you react? : the liftoff effect on capital flows
Title
If the Fed acts, how do you react?
Title remainder
the liftoff effect on capital flows
Statement of responsibility
prepared by Swarnali Ahmed
Creator
Contributor
Author
Subject
Language
eng
Summary
After more than six years of ultra-low interest rates, a Fed liftoff (rate hike) is just a matter of time. This paper goes back to history to understand the spillover effect - or what is termed in the paper as the 'liftoff' effect - of the previous five Fed liftoffs on capital flows. Using a dynamic panel framework covering 48 countries (27 advanced economies, 21 emerging markets) over the period 1982-2006, the paper shows that the liftoff effect on capital flows (total private, portfolio) is significantly higher for emerging market economies (EM) than advanced market economies (AM). EM capital flows are hit indiscriminately one quarter before liftoff, suggesting that markets usually price in the liftoff before the actual event. Over time, there is a bit more variation among EM as policy responses/framework can to some extent dampen market reactions. The findings are similar to the unfolding of events during the taper tantrum episode indicating that, even though current circumstances are very different, history could still provide a good guidance. --Abstract
Member of
Cataloging source
DJB
Government publication
international or intergovernmental publication
Illustrations
illustrations
http://bibfra.me/vocab/relation/imfstaff
omjwHxbIGVg
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 No. 15/256eb
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/15/256
Label
If the Fed acts, how do you react? : the liftoff effect on capital flows, prepared by Swarnali Ahmed
Publication
Note
  • "December 2015."
  • "Strategy, Policy and Review Department."
Bibliography note
Includes bibliographical references (pages 26-27)
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; Abstract; I. INTRODUCTION; II. THE LIFTOFF EFFECT OF THE U.S. RATE; A. Empirical Strategy; Step 1: The Generic Model for Capital Flows; Step 2: The Saturated Model Introducing Liftoff Effects; Step 3: The Restricted Model from the Saturated Model; Robustness Checks; B. Results; Model Results; Using Model Results to Get a Sense of Magnitude; C. Why a Liftoff Effect Prior to Liftoff?; III. THE LIFTOFF EFFECT OF DOMESTIC POLICIES; A. The Policies; B. Empirical Strategy; C. Results; D. Can Policies Mitigate the Negative Liftoff Effect of the U.S. Rate?
  • The Estimated Extra Impact on Capital Flows during Liftoff Episodes due to One Standard Deviation Shock in Each VariableThe Estimated Extra Impact during Liftoff Episodes using Average Values of Each Variable; IV. CONCLUDING THOUGHTS; V. REFERENCES; VI. FIGURES; VII. TABLES; VIII. APPENDIX
Control code
ocn933252050
Extent
1 online resource (39 pages)
Form of item
online
Isbn
9781513588599
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
color illustrations
http://library.link/vocab/recordID
.b37113136
Specific material designation
remote
System control number
  • (OCoLC)933252050
  • imf1513588591

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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