Monetary policy responses to external spillovers in emerging market economies

Despite the remarkable progress made in many emerging and middle-income economies over the last few decades the continuing liberalization in financial markets and the integration into the global financial system these countries remain highly vulnerable to real and financial shocks coming from the U....

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Autores principales:	Devereux, Michael B., Yu, Changhua
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA MONETARIA MERCADO FINANCIERO CRISIS FINANCIERA
Acceso en línea:	https://hdl.handle.net/20.500.12580/3861
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spelling	oai-20.500.12580-38612021-04-24T11:13:46Z Monetary policy responses to external spillovers in emerging market economies Devereux, Michael B. Yu, Changhua POLÍTICA MONETARIA MERCADO FINANCIERO CRISIS FINANCIERA Despite the remarkable progress made in many emerging and middle-income economies over the last few decades the continuing liberalization in financial markets and the integration into the global financial system these countries remain highly vulnerable to real and financial shocks coming from the U.S. and other advanced economies. Particularly in the aftermath of the financial crisis emerging economies have been subject to rapid buildups and reversals of international capital flows and large real exchange rate fluctuations. This experience is partially responsible for a new debate on the relevance of the open economy policy ‘trilemma’ as applied to emerging market economies (Rey 2013 2015). 2019-11-01T00:08:11Z 2019-11-01T00:08:11Z 2018 Artículo 978-956-7421-58-9 https://hdl.handle.net/20.500.12580/3861 eng Series on Central Banking Analysis and Economic Policies no. 25 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 183-223 application/pdf ESTADOS UNIDOS Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA MONETARIA MERCADO FINANCIERO CRISIS FINANCIERA
spellingShingle	POLÍTICA MONETARIA MERCADO FINANCIERO CRISIS FINANCIERA Devereux, Michael B. Yu, Changhua Monetary policy responses to external spillovers in emerging market economies
description	Despite the remarkable progress made in many emerging and middle-income economies over the last few decades the continuing liberalization in financial markets and the integration into the global financial system these countries remain highly vulnerable to real and financial shocks coming from the U.S. and other advanced economies. Particularly in the aftermath of the financial crisis emerging economies have been subject to rapid buildups and reversals of international capital flows and large real exchange rate fluctuations. This experience is partially responsible for a new debate on the relevance of the open economy policy ‘trilemma’ as applied to emerging market economies (Rey 2013 2015).
format	Artículo
author	Devereux, Michael B. Yu, Changhua
author_facet	Devereux, Michael B. Yu, Changhua
author_sort	Devereux, Michael B.
title	Monetary policy responses to external spillovers in emerging market economies
title_short	Monetary policy responses to external spillovers in emerging market economies
title_full	Monetary policy responses to external spillovers in emerging market economies
title_fullStr	Monetary policy responses to external spillovers in emerging market economies
title_full_unstemmed	Monetary policy responses to external spillovers in emerging market economies
title_sort	monetary policy responses to external spillovers in emerging market economies
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3861
work_keys_str_mv	AT devereuxmichaelb monetarypolicyresponsestoexternalspilloversinemergingmarketeconomies AT yuchanghua monetarypolicyresponsestoexternalspilloversinemergingmarketeconomies
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Monetary policy responses to external spillovers in emerging market economies

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