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Countercyclical policies in emerging markets

Author

Listed:
  • Elod Takáts

Abstract

Emerging market economies (EMEs) have historically faced challenges in implementing countercyclical policies. However, the policy environment has changed. This paper finds evidence that EMEs were able to conduct countercyclical monetary and fiscal policies over the past decade. Indeed, the EMEs that have leaned more heavily against the business cycle have generally used both monetary and fiscal tools to do so.

Suggested Citation

  • Elod Takáts, 2012. "Countercyclical policies in emerging markets," BIS Quarterly Review, Bank for International Settlements, June.
  • Handle: RePEc:bis:bisqtr:1206e
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    Citations

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    Cited by:

    1. Floro, Danvee & van Roye, Björn, 2017. "Threshold effects of financial stress on monetary policy rules: A panel data analysis," International Review of Economics & Finance, Elsevier, vol. 51(C), pages 599-620.
    2. repec:eee:jbfina:v:79:y:2017:i:c:p:110-128 is not listed on IDEAS

    More about this item

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • 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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