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Bras de fer avec la volatilité : quelles options de politique pour les marchés émergents ?

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  • Philip Turner

Abstract

Very expansionary and non-conventional monetary policy in the advanced economies has suppressed bond market volatility and lowered yields. When this reverses, there may be an outsized impact on emerging market bonds. This paper considers the options open to central banks in the emerging markets ? policy rate changes, forex intervention, changes in reserve requirements and interventionist bond market operations. Classification JEL: E43, E52, E58, E63.

Suggested Citation

  • Philip Turner, 2015. "Bras de fer avec la volatilité : quelles options de politique pour les marchés émergents ?," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 227-250.
    • Handle: RePEc:cai:refaef:ecofi_119_0227
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    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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