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220928 ||| eng |
| 020 |
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|a 9781513549668
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| 100 |
1 |
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|a Adrian, Tobias
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| 245 |
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0 |
|a A Quantitative Model for the Integrated Policy Framework
|c Tobias Adrian, Christopher Erceg, Jesper Lindé, Pawel Zabczyk, Jianping Zhou
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2020
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| 300 |
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|a 56 pages
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| 651 |
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4 |
|a New Zealand
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| 653 |
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|a Interest rates
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| 653 |
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|a Inflation
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| 653 |
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|a Investment
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| 653 |
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|a Finance
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| 653 |
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|a Return on investment
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| 653 |
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|a Financial services
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| 653 |
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|a Deflation
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| 653 |
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|a Open Economy Macroeconomics
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| 653 |
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|a Currency
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| 653 |
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|a Intangible Capital
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| 653 |
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|a Quantitative Policy Modeling
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| 653 |
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|a National accounts
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| 653 |
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|a Price Level
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Saving and investment
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Investments: General
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| 653 |
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|a Prices
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Real exchange rates
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Capacity
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| 653 |
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|a Central Banks and Their Policies
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| 653 |
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|a Interest rate parity
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| 653 |
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|a Exchange rates
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| 653 |
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|a Capital
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Foreign exchange
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| 700 |
1 |
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|a Erceg, Christopher
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| 700 |
1 |
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|a Lindé, Jesper
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| 700 |
1 |
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|a Zabczyk, Pawel
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
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|a 10.5089/9781513549668.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2020/122/001.2020.issue-122-en.xml?cid=49555-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a Many central banks have relied on a range of policy tools, including foreign exchange intervention (FXI) and capital flow management tools (CFMs), to mitigate the effects of volatile capital flows on their economies. We develop an empirically-oriented New Keynesian model to evaluate and quantify how using multiple policy tools can potentially improve monetary policy tradeoffs. Our model embeds nonlinear balance sheet channels and includes a range of empirically-relevant frictions. We show that FXI and CFMs may improve policy tradeoffs under certain conditions, especially for economies with less well-anchored inflation expectations, substantial foreign currency mismatch, and that are more vulnerable to shocks likely to induce capital outflows and exchange rate pressures
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