A Unifying Framework for Analysing Offsetting Capital Flows and Sterilisation
AbstractThis paper provides a unifying framework in which identified offset and sterilisation equations can be derived and estimated. The theoretical model suggests that, in the case where the central bank cares about bouth external and internal goals and capital is less than perfectly mobile, there will be some offsetting capital flows and the central bank will sterilise. Several results from the literature are encompassed as special case.
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Bibliographic InfoPaper provided by Athens University of Economics and Business in its series DEOS Working Papers with number 97-06.
Length: 33 pages
Date of creation: 1997
Date of revision:
CAPITAL MARKET ; ECONOMIC MODELS;
Other versions of this item:
- Brissimis, S.N. & Gibson, H.D. & Tsakalotos, E., 1997. "A Unifying Framework for Analysing Offsetting Capital Flows and Sterilisation," Athens University of Economics and Business 97-06, Athens University of Economics and Business, Department of International and European Economic Studies.
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
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