Emerging markets and developing economies (EMDEs) exhibit significantly greater volatility in asset returns than advanced economies. The commonalities in these returns (and flows) across countries are particularly strong for EMDEs. If these occur independently of the exchange rate regime and if these global financial cycle effects are furthermore independent of countries’ financial openness, the result is Obstfeld (2022)’s “Lemma”: countries can do...
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تفاصيل
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2023/10/04
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ورقة عمل خاصة ببحوث السياسات
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WPS10582
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1
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2023/10/04
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Disclosed
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Capital Controls in Emerging and Developing Economies and the Transmission of U.S. Monetary Policy
تنزيل الملفات
تقرير كامل
نسخة رسمية من الوثيقة (قد تضم توقيعات، الخ)
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