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Gustavo Adler

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Gustavo Adler & Kyun Suk Chang & Rui Mano & Yuting Shao, 2021. "Foreign Exchange Intervention: A Dataset of Public Data and Proxies," IMF Working Papers 2021/047, International Monetary Fund.

    Cited by:

    1. Naef, Alain, 2022. "Blowing against the Wind? A Narrative Approach to Central Bank Foreign Exchange Intervention," SocArXiv u59gc, Center for Open Science.
    2. David Castañeda-Arévalo & Fredy Gamboa-Estrada, 2021. "Los determinantes de la liquidez en Colombia: un análisis del mercado de divisas de contado," Borradores de Economia 1185, Banco de la Republica de Colombia.
    3. Adler, Gustavo & Chang, Kyun Suk & Wang, Zijiao, 2021. "Patterns of foreign exchange intervention under inflation targeting," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
    4. Arslanalp, Serkan & Eichengreen, Barry & Simpson-Bell, Chima, 2022. "The stealth erosion of dollar dominance and the rise of nontraditional reserve currencies," Journal of International Economics, Elsevier, vol. 138(C).
    5. Albagli, Elias & Ceballos, Luis & Claro, Sebastian & Romero, Damian, 2024. "UIP deviations: Insights from event studies," Journal of International Economics, Elsevier, vol. 148(C).
    6. Olanubi, Sijuola Orioye, 2023. "Foreign exchange intervention and the Dutch disease under incomplete information," The Journal of Economic Asymmetries, Elsevier, vol. 28(C).
    7. Kim, Minsuk & Mano, Rui C. & Mrkaic, Mico, 2024. "Do FX interventions lead to higher FX debt? Evidence from firm-level data," Journal of International Money and Finance, Elsevier, vol. 148(C).
    8. Rafael Cezar & Eric Monnet, 2023. "Capital controls and foreign reserves against external shocks: Combined or alone?," PSE-Ecole d'économie de Paris (Postprint) halshs-04409575, HAL.
    9. Lodge, David & Manu, Ana-Simona & Van Robays, Ine, 2024. "China's footprint in global financial markets," BOFIT Discussion Papers 1/2024, Bank of Finland Institute for Emerging Economies (BOFIT).
    10. M. Ramachandran, 2023. "Official Intervention, Reserve Accumulation and Exchange Rate Volatility," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 21(2), pages 269-287, June.
    11. Marcel Fratzscher & Tobias Heidland & Lukas Menkhoff & Lucio Sarno & Maik Schmeling, 2020. "Foreign Exchange Intervention: A New Database," Discussion Papers of DIW Berlin 1915, DIW Berlin, German Institute for Economic Research.
    12. Ahmed, Rashad & Aizenman, Joshua & Saadaoui, Jamel & Uddin, Gazi Salah, 2023. "On the effectiveness of foreign exchange reserves during the 2021-22 U.S. monetary tightening cycle," Economics Letters, Elsevier, vol. 233(C).
    13. Flavio Abanto Salcedo, 2024. "Is Foreign Exchange Intervention through derivative instruments effective? An analysis of the Peruvian case," IHEID Working Papers 17-2024, Economics Section, The Graduate Institute of International Studies.
    14. Naef, Alain, 2024. "Blowing against the Wind? a narrative approach to central Bank foreign exchange intervention," Journal of International Money and Finance, Elsevier, vol. 146(C).
    15. Vanessa Olakemi Dovonou, 2023. "Trilemma revisited with dollar dominance in trade and finance," Working Papers 2023.05, International Network for Economic Research - INFER.
    16. Kim, Daehwan & Nilsen, Jeffrey, 2023. "A Gordon growth formula for wealth-income ratios and its implications on cross-country differences," Finance Research Letters, Elsevier, vol. 58(PD).
    17. Aftab, Muhammad & Phylaktis, Kate, 2022. "Economic integration and exchange market pressure in a policy uncertain world," Journal of International Money and Finance, Elsevier, vol. 128(C).
    18. Zheng, Huanhuan, 2023. "Original sin redux and deviations from covered interest parity," Journal of International Money and Finance, Elsevier, vol. 139(C).
    19. Maqsood Aslam & Etienne Farvaque, 2022. "Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19," Post-Print hal-03267518, HAL.
    20. Bergant, Katharina & Forbes, Kristin, 2023. "Policy packages and policy space: Lessons from COVID-19☆," European Economic Review, Elsevier, vol. 158(C).
    21. Gamboa-Estrada, Fredy & Romero, José Vicente, 2022. "Common and idiosyncratic movements in Latin-American exchange rates," International Economics, Elsevier, vol. 171(C), pages 174-190.

  2. Gustavo Adler & Camila Casas & Mr. Luis M. Cubeddu & Ms. Gita Gopinath & Ms. Nan Li & Sergii Meleshchuk & Ms. Carolina Osorio-Buitron & Mr. Damien Puy & Mr. Yannick Timmer, 2020. "Dominant Currencies and External Adjustment," IMF Staff Discussion Notes 2020/005, International Monetary Fund.

    Cited by:

    1. Boz, Emine & Casas, Camila & Georgiadis, Georgios & Gopinath, Gita & Le Mezo, Helena & Mehl, Arnaud & Nguyen, Tra, 2022. "Patterns of invoicing currency in global trade: New evidence," Journal of International Economics, Elsevier, vol. 136(C).
    2. Georg Zachmann & Guntram B. Wolff & Marcel Fratzscher & Kerstin Bernoth & Gabriel Felbermayr & Niclas Poitiers & Alexander Sandkamp & Mia Hoffmann & Pauline Weil & Katrin Kamin & Malte Rieth & Jacquel, . "Instruments of a strategic foreign economic policy," Bruegel Book, Bruegel, number 45816.
    3. Mariana Colacelli & Deepali Gautam & Cyril Rebillard, 2021. "Japan’s Foreign Assets and Liabilities: Implications for the External Accounts," IMF Working Papers 2021/026, International Monetary Fund.
    4. Joana Garcia & João Amador, 2023. "Currency choices and the role of the U.S. dollar in international services trade," Working Papers w202316, Banco de Portugal, Economics and Research Department.
    5. Frohm, Erik, 2023. "Dominant currencies and the export supply channel," International Economics, Elsevier, vol. 173(C), pages 1-18.
    6. Kim, Minsuk & Mano, Rui C. & Mrkaic, Mico, 2024. "Do FX interventions lead to higher FX debt? Evidence from firm-level data," Journal of International Money and Finance, Elsevier, vol. 148(C).
    7. Moro, Alessandro & Nispi Landi, Valerio, 2024. "The external financial spillovers of CBDCs," Journal of Economic Dynamics and Control, Elsevier, vol. 159(C).
    8. Ms. Emine Boz & Camila Casas & Georgios Georgiadis & Ms. Gita Gopinath & Helena Le Mezo & Arnaud Mehl & Miss Tra Nguyen, 2020. "Patterns in Invoicing Currency in Global Trade," IMF Working Papers 2020/126, International Monetary Fund.
    9. Theocharis, Dimitrios & Rodrigues, Vasco Sanchez & Pettit, Stephen & Haider, Jane, 2021. "Feasibility of the Northern Sea Route for seasonal transit navigation: The role of ship speed on ice and alternative fuel types for the oil product tanker market," Transportation Research Part A: Policy and Practice, Elsevier, vol. 151(C), pages 259-283.
    10. Karsten Kohler & Engelbert Stockhammer, 2022. "Flexible exchange rates in emerging markets: shock absorbers or drivers of endogenous cycles?," Working Papers PKWP2205, Post Keynesian Economics Society (PKES).
    11. Montfaucon, Angella Faith & Sato, Kiyotaka & Shrestha, Nagendra & Parsons, Craig, 2021. "Exchange rate pass-through and invoicing currency choice between fixed and floating exchange rate regimes: Evidence from Malawi’s transaction-level data," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 562-577.

  3. Gustavo Adler & Kyun Suk Chang & Zijiao Wang, 2020. "Patterns of Foreign Exchange Intervention under Inflation Targeting," IMF Working Papers 2020/069, International Monetary Fund.

    Cited by:

    1. Beck, Roland & Berganza, Juan Carlos & Brüggemann, Axel & Cezar, Rafael & Eijking, Carlijn & Eller, Markus & Fuentes, Alberto & Alves, Joel Graça & Kreitz, Lilian & Marsilli, Clement & Moder, Isabella, 2023. "Recent advances in the literature on capital flow management," Occasional Paper Series 317, European Central Bank.
    2. Avril Pauline & Levieuge Grégory & Turcu Camelia, 2022. "Natural Disasters and Financial Stress: Can Macroprudential Regulation Tame Green Swans?," Working papers 874, Banque de France.
    3. Eli Direye & Tarron Khemraj, 2022. "Central bank securities and foreign exchange market intervention in a developing economy," Review of Development Economics, Wiley Blackwell, vol. 26(1), pages 280-297, February.
    4. Pierre-Richard Agénor & Luiz Awazu Pereira da Silva, 2021. "Macroeconomic policy under a managed float: a simple integrated framework," BIS Working Papers 964, Bank for International Settlements.
    5. George Kosgei Kiptum, 2022. "Relationship between Kenya’s economic growth and inflation," SN Business & Economics, Springer, vol. 2(12), pages 1-16, December.
    6. Luangaram, Pongsak & Wongpunya, Nipit, 2024. "The effect of trade openness and exchange rate on inflation targeting in Thailand," Journal of Asian Economics, Elsevier, vol. 92(C).
    7. Direye, Eli & Khemraj, Tarron, 2021. "Central bank securities and FX market intervention in a developing economy," MPRA Paper 111533, University Library of Munich, Germany, revised 09 Aug 2021.
    8. Haryo Kuncoro & Caroline Geetha & Fafurida Fafurida, 2024. "Central Bank Intervention and Exchange Rate Volatility in the Inflation-Targeting Regime," Economic Research Guardian, Mutascu Publishing, vol. 14(1), pages 2-15, June.

  4. Mr. Luis M. Cubeddu & Signe Krogstrup & Gustavo Adler & Mr. Pau Rabanal & Mai Dao & Mrs. Swarnali A Hannan & Luciana Juvenal & Ms. Carolina Osorio-Buitron & Cyril Rebillard & Mr. Daniel Garcia-Macia &, 2019. "The External Balance Assessment Methodology: 2018 Update," IMF Working Papers 2019/065, International Monetary Fund.

    Cited by:

    1. Valerio Della Corte & Claire Giordano, 2021. "Methodological issues in the estimation of current account imbalances," Questioni di Economia e Finanza (Occasional Papers) 617, Bank of Italy, Economic Research and International Relations Area.
    2. Filardo, Andrew & Gelos, Gaston & McGregor, Thomas, 2022. "Exchange-Rate Swings and Foreign Currency Intervention," CEPR Discussion Papers 17570, C.E.P.R. Discussion Papers.
    3. Dantas Guimarães, Silvana & Ferreira Tiryaki, Gisele, 2020. "The impact of population aging on business cycles volatility: International evidence," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).
    4. Johannes Eugster & Giovanni Donato, 2022. "The exchange rate elasticity of the Swiss current account," Working Papers 2022-14, Swiss National Bank.
    5. Mai Dao & Ms. Camelia Minoiu & Mr. Jonathan David Ostry, 2017. "Corporate Investment and the Real Exchange Rate," IMF Working Papers 2017/183, International Monetary Fund.
    6. Valérie Mignon & Emmanuelle Faure & Carl Grekou, 2023. "Current Account Balances' Divergence in the Euro Area: An Appraisal of the Underlying Forces," Post-Print hal-04435765, HAL.
    7. Ambaw, Dessie & Pundit, Madhavi & Ramayandi, Arief & Sim, Nicholas, 2022. "Real Exchange Rate Misalignment and Business Cycle Fluctuations in Asia and the Pacific," ADB Economics Working Paper Series 651, Asian Development Bank.
    8. Mariana Colacelli & Deepali Gautam & Cyril Rebillard, 2021. "Japan’s Foreign Assets and Liabilities: Implications for the External Accounts," IMF Working Papers 2021/026, International Monetary Fund.
    9. Peter D. Williams & Mr. Yasser Abdih & Emanuel Kopp, 2020. "Reading the Stars," IMF Working Papers 2020/136, International Monetary Fund.
    10. Mr. Alberto Behar & Ramin Hassan, 2022. "The Current Account Income Balance: External Adjustment Channel or Vulnerability Amplifier?," IMF Working Papers 2022/106, International Monetary Fund.
    11. Coutinho, Leonor & Turrini, Alessandro & Zeugner, Stefan, 2022. "Assessing the euro area current account," Journal of International Money and Finance, Elsevier, vol. 121(C).
    12. Agustín Bénétrix & Beren Demirölmez & Martin Schmitz, 2024. "The Shock Absorbing Role of Cross-border Investments: Net Positions Versus Currency Composition," Open Economies Review, Springer, vol. 35(2), pages 363-394, April.
    13. Gustavo Adler & Mr. Daniel Garcia-Macia & Signe Krogstrup, 2019. "The Measurement of External Accounts," IMF Working Papers 2019/132, International Monetary Fund.
    14. Callum Jones & Mr. Pau Rabanal, 2021. "Credit Cycles, Fiscal Policy, and Global Imbalances," IMF Working Papers 2021/043, International Monetary Fund.
    15. Alfonso Camba-Crespo & José García-Solanes & Fernando Torrejón-Flores, 2021. "Current-account breaks and stability spells in a global perspective," Applied Economic Analysis, Emerald Group Publishing Limited, vol. 30(88), pages 1-17, July.
    16. Ca' Zorzi, Michele & Longaric, Pablo Anaya & Rubaszek, Michał, 2021. "The predictive power of equilibrium exchange rate models," Economic Bulletin Articles, European Central Bank, vol. 7.
    17. Océane Blomme & Jérôme Héricourt, 2023. "Inequality, Current Account Imbalances and Middle Incomes," Working Papers 2023-11, CEPII research center.
    18. Miriam Koomen & Laurence Wicht, 2020. "Demographics, pension systems, and the current account: an empirical assessment using the IMF current account model," Working Papers 2020-23, Swiss National Bank.
    19. Claire Giordano, 2022. "Revisiting the real exchange rate misalignment-economic growth nexus via the across-sector misallocation channel," Temi di discussione (Economic working papers) 1385, Bank of Italy, Economic Research and International Relations Area.
    20. Donato, Giovanni & Tille, Cédric, 2024. "International investment income: Patterns, drivers, and heterogeneous sensitivities," Kiel Working Papers 2271, Kiel Institute for the World Economy (IfW Kiel).
    21. Rui Mano & Ms. Carolina Osorio-Buitron & Mr. Luca A Ricci & Mr. Mauricio Vargas, 2019. "The Level REER model in the External Balance Assessment (EBA) Methodology," IMF Working Papers 2019/192, International Monetary Fund.
    22. Boonman, Tjeerd, 2023. "Have drivers of portfolio capital flows changed since the Global Financial Crisis?," MPRA Paper 116507, University Library of Munich, Germany.
    23. Rubaszek, Michał & Beckmann, Joscha & Ca' Zorzi, Michele & Kwas, Marek, 2022. "Boosting carry with equilibrium exchange rate estimates," Working Paper Series 2731, European Central Bank.
    24. Artemis Stratopoulou, 2023. "Assessing the Effects of Capital Account Liberalization on Savings," Open Economies Review, Springer, vol. 34(5), pages 1107-1170, November.
    25. Gian Maria Milesi-Ferretti, 2024. "Many Creditors, One Large Debtor: Understanding the Buildup of Global Stock Imbalances After the Global Financial Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(2), pages 509-553, June.
    26. Koomen, Miriam & Wicht, Laurence, 2022. "Pension systems and the current account: An empirical exploration," Journal of International Money and Finance, Elsevier, vol. 120(C).
    27. Kathryn M. E. Dominguez, 2020. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 693-719, September.
    28. Mr. Cian Allen & Camila Casas & Mr. Giovanni Ganelli & Luciana Juvenal & Mr. Daniel Leigh & Mr. Pau Rabanal & Cyril Rebillard & Jair Rodriguez & João Tovar Jalles, 2023. "2022 Update of the External Balance Assessment Methodology," IMF Working Papers 2023/047, International Monetary Fund.
    29. Leonor Coutinho & Nuria Mata Garcia & Alessandro Turrini & Goran Vukšić, 2021. "Methodologies for the Assessment of Real Effective Exchange Rates," European Economy - Discussion Papers 149, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    30. Boonman, Tjeerd M., 2023. "Portfolio capital flows before and after the Global Financial Crisis," Economic Modelling, Elsevier, vol. 127(C).
    31. Ms. Enrica Detragiache & Mr. Christian H Ebeke & La-Bhus Fah Jirasavetakul & Koralai Kirabaeva & Mr. Davide Malacrino & Florian Misch & Mr. Hyun Park & Ms. Yu Shi, 2020. "A European Minimum Wage: Implications for Poverty and Macroeconomic Imbalances," IMF Working Papers 2020/059, International Monetary Fund.
    32. Miriam Koomen & Laurence Wicht, 2023. "Demographics and Current Account Imbalances: Accounting for the Full Age Distribution," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(3), pages 719-758, September.
    33. Mr. Alexander Culiuc, 2020. "Real Exchange Rate Overshooting in Large Depreciations: Determinants and Consequences," IMF Working Papers 2020/060, International Monetary Fund.
    34. Ca’ Zorzi, Michele & Rubaszek, Michał, 2023. "How many fundamentals should we include in the behavioral equilibrium exchange rate model?," Economic Modelling, Elsevier, vol. 118(C).
    35. Beckmann, Joscha & Belke, Ansgar & Gros, Daniel, 2022. "Savings–investment and the current account More measurement than identity," Journal of International Money and Finance, Elsevier, vol. 121(C).
    36. Felice, Giulia & Tajoli, Lucia, 2021. "Trade balances and global value chains: Is there a link?," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 228-246.
    37. Valérie Mignon & Carl Grekou & Emmanuelle Faure, 2023. "Current account balances’ divergence in the euro area: an appraisal of the underlying forces," EconomiX Working Papers 2023-3, University of Paris Nanterre, EconomiX.
    38. Boyle, Erik S., 2024. "How do auditors’ use of industry norms differentially impact management evaluations of audit quality under principles-based and rules-based accounting standards?," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 54(C).

  5. Gustavo Adler & Mr. Daniel Garcia-Macia & Signe Krogstrup, 2019. "The Measurement of External Accounts," IMF Working Papers 2019/132, International Monetary Fund.

    Cited by:

    1. Herkenhoff, Philipp & Sauré, Philip, 2021. "How expected inflation distorts the current account and the valuation effect," European Economic Review, Elsevier, vol. 135(C).
    2. Paul Austin & Gabriel Quirós-Romero & Jennifer Ribarsky, 2020. "International integration and statistical challenges: the intersection between policy and measurement needs," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Bridging measurement challenges and analytical needs of external statistics: evolution or revolution?, volume 52, Bank for International Settlements.
    3. Coutinho, Leonor & Turrini, Alessandro & Zeugner, Stefan, 2022. "Assessing the euro area current account," Journal of International Money and Finance, Elsevier, vol. 121(C).
    4. Mr. Luis M. Cubeddu & Signe Krogstrup & Gustavo Adler & Mr. Pau Rabanal & Mai Dao & Mrs. Swarnali A Hannan & Luciana Juvenal & Ms. Carolina Osorio-Buitron & Cyril Rebillard & Mr. Daniel Garcia-Macia &, 2019. "The External Balance Assessment Methodology: 2018 Update," IMF Working Papers 2019/065, International Monetary Fund.
    5. Mr. Shafik Hebous & Mr. Alexander D Klemm & Yuou Wu, 2021. "How Does Profit Shifting Affect the Balance of Payments?," IMF Working Papers 2021/041, International Monetary Fund.
    6. Duncan van Limbergen, 2020. "Revisiting the income balance. What makes EU tax havens different?," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Bridging measurement challenges and analytical needs of external statistics: evolution or revolution?, volume 52, Bank for International Settlements.
    7. Hansen, Erwin & Wagner, Rodrigo, 2022. "The reinvestment by multinationals as a capital flow: Crises, imbalances, and the cash-based current account," Journal of International Money and Finance, Elsevier, vol. 124(C).

  6. Gustavo Adler & Sergii Meleshchuk & Ms. Carolina Osorio-Buitron, 2019. "Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?," IMF Working Papers 2019/300, International Monetary Fund.

    Cited by:

    1. Obstfeld, Maurice, 2020. "Harry Johnson’s “Case for Flexible Exchange Rates†– 50 Years Later," CEPR Discussion Papers 14488, C.E.P.R. Discussion Papers.
    2. Pierre-Richard Agénor & Timothy P. Jackson & Luiz Pereira da Silva, 2020. "Foreign Exchange Intervention and Financial Stability," Working Papers 202027, University of Liverpool, Department of Economics.
    3. Maurice Obstfeld, 2020. "Harry Johnson's “Case for flexible exchange rates”—50 years later," Manchester School, University of Manchester, vol. 88(S1), pages 86-113, September.
    4. Georgiadis, Georgios & Gräb, Johannes & Khalil, Makram, 2019. "Global value chain participation and exchange rate pass-through," Working Paper Series 2327, European Central Bank.
    5. Teng, Yuqiang & Lin, Boqiang, 2024. "The energy-saving effect of industrial chain synergistic division: Evidence from China's industrial chain," Energy Policy, Elsevier, vol. 185(C).

  7. Gustavo Adler & Mr. Daniel Garcia-Macia, 2018. "The Stabilizing Role of Net Foreign Asset Returns," IMF Working Papers 2018/079, International Monetary Fund.

    Cited by:

    1. Cian Allen, 2018. "Revisiting External Imbalances: Insights from Sectoral Accounts," 2018 Papers pal913, Job Market Papers.
    2. Pinar Yesin, 2018. "Comment on "Do Swiss foreign assets hedge the business cycle?" by Nicolas Stoffels and Cédric Tille," Aussenwirtschaft, University of St. Gallen, School of Economics and Political Science, Swiss Institute for International Economics and Applied Economics Research, vol. 69(01), pages 41-44, December.
    3. Balazs Zelity, 2021. "Welfare Effects of FDI: A Quantitative Analysis," Wesleyan Economics Working Papers 2021-001, Wesleyan University, Department of Economics.
    4. Mariana Colacelli & Deepali Gautam & Cyril Rebillard, 2021. "Japan’s Foreign Assets and Liabilities: Implications for the External Accounts," IMF Working Papers 2021/026, International Monetary Fund.
    5. Joseph P. Joyce, 2021. "The sources of international investment income in emerging market economies," Review of International Economics, Wiley Blackwell, vol. 29(3), pages 606-625, August.
    6. Carvalho, Daniel, 2020. "Leverage and valuation effects: How global liquidity shapes sectoral balance sheets," International Review of Financial Analysis, Elsevier, vol. 72(C).
    7. Bergant, Katharina, 2021. "The role of stock-flow adjustment during the global financial crisis," Journal of International Money and Finance, Elsevier, vol. 110(C).
    8. Gustavo Adler & Mr. Daniel Garcia-Macia & Signe Krogstrup, 2019. "The Measurement of External Accounts," IMF Working Papers 2019/132, International Monetary Fund.
    9. Dausà, Neus & Stracca, Livio, 2023. "The asymmetric adjustment of global imbalances: myth or fact?," Working Paper Series 2777, European Central Bank.
    10. Jörg Mayer, 2021. "The “exorbitant privilege” and “exorbitant duty” of the United States in the international monetary system: implications for developing countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(4), pages 927-964, November.
    11. Gian Maria Milesi-Ferretti, 2024. "Many Creditors, One Large Debtor: Understanding the Buildup of Global Stock Imbalances After the Global Financial Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(2), pages 509-553, June.
    12. Siranova, Maria, 2024. "Statistical omissions as the stabilizing factor of net foreign assets in EU countries," International Economics, Elsevier, vol. 178(C).
    13. Beckmann, Joscha & Belke, Ansgar & Gros, Daniel, 2022. "Savings–investment and the current account More measurement than identity," Journal of International Money and Finance, Elsevier, vol. 121(C).

  8. Gustavo Adler & Ms. Carolina Osorio-Buitron, 2017. "Tipping the Scale? The Workings of Monetary Policy through Trade," IMF Working Papers 2017/142, International Monetary Fund.

    Cited by:

    1. Gustavo Adler & Carolina Osorio Buitron, 2019. "Policy mix and the U.S. trade balance," International Finance, Wiley Blackwell, vol. 22(2), pages 138-154, August.
    2. Thanh, Su Dinh & Canh, Nguyen Phuc & Doytch, Nadia, 2020. "Asymmetric effects of U.S. monetary policy on the U.S. bilateral trade deficit with China: A Markov switching ARDL model approach," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
    3. Vladislav Abramov, 2020. "Spillover Effects of Russian Monetary Policy Shocks on the Eurasian Economic Union," Bank of Russia Working Paper Series wps60, Bank of Russia.
    4. Luigi Bonatti & Andrea Fracasso & Roberto Tamborini, 2021. "Monetary and Fiscal Spillovers Across the Atlantic: The Role of Financial Markets," DEM Working Papers 2021/09, Department of Economics and Management.

  9. Gustavo Adler & Mr. Ruy Lama & Juan Pablo Medina, 2017. "Unconventional Policies and Exchange Rate Dynamics," IMF Working Papers 2017/237, International Monetary Fund.

    Cited by:

    1. Eller, Markus & Huber, Florian & Schuberth, Helene, 2018. "How Important are Global Factors for Understanding the Dynamics of International Capital Flows?," Working Papers in Economics 2018-2, University of Salzburg.
    2. Gábor Dávid Kiss & Mercédesz Mészáros, 2020. "Gravity Among Central Bank Balance Sheets: Monetary Policy Spill-Over on FX Volatility," Econometric Research in Finance, SGH Warsaw School of Economics, Collegium of Economic Analysis, vol. 5(1), pages 33-57, June.
    3. Funashima, Yoshito, 2020. "Money stock versus monetary base in time–frequency exchange rate determination," Journal of International Money and Finance, Elsevier, vol. 104(C).

  10. Gustavo Adler & Mr. Nicolas E Magud & Alejandro M. Werner, 2017. "Terms-of-Trade Cycles and External Adjustment," IMF Working Papers 2017/029, International Monetary Fund.

    Cited by:

    1. Joshua Aizenman & Sy-Hoa Ho & Luu Duc Toan Huynh & Jamel Saadaoui & Gazi Salah Uddin, 2023. "Real exchange rate and international reserves in the era of financial integration," Working Papers of BETA 2023-07, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    2. Dainauskas, Justas, 2023. "Time-varying exchange rate pass-through into terms of trade," LSE Research Online Documents on Economics 120000, London School of Economics and Political Science, LSE Library.
    3. Tii N. Nchofoung, 2022. "Trade shocks and labour market Resilience in Sub-Saharan Africa: Does the franc zone Response Differently?," Working Papers 22/005, European Xtramile Centre of African Studies (EXCAS).
    4. Trofimov, Ivan D., 2018. "Income terms of trade and economic convergence: Evidence from Latin America," MPRA Paper 87598, University Library of Munich, Germany.
    5. Nakatani, Ryota, 2018. "Adjustment to negative price shocks by a commodity exporting economy: Does exchange rate flexibility resolve a balance of payments crisis?," Journal of Asian Economics, Elsevier, vol. 57(C), pages 13-35.
    6. Sèna Kimm Gnangnon, 2018. "Multilateral Trade Liberalization and Terms of Trade Volatility," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 1-21, October.
    7. Constance de Soyres & Anna Rogantini Picco & Miss Randa Sab, 2019. "Debt Build-up in Frontier Low-Income Developing Countries (LIDCs) since 2012: Global or Country-specific Factors and Way Forward?," IMF Working Papers 2019/037, International Monetary Fund.
    8. Camilo Alberto Cárdenas-Hurtado & Aaron Levi Garavito-Acosta & Jorge Hernán Toro-Córdoba, 2018. "Asymmetric Effects of Terms of Trade Shocks on Tradable and Non-tradable Investment Rates: The Colombian Case," Borradores de Economia 1043, Banco de la Republica de Colombia.
    9. Mahmood, Asif & Asif, Hashaam, 2023. "Terms-of-Trade Shocks, External Adjustments and Growth in Pakistan: How Much to Sacrifice," MPRA Paper 118726, University Library of Munich, Germany.
    10. Mr. Yan Carriere-Swallow & Mr. Nicolas E Magud & Juan Yepez, 2018. "No Pain, All Gain? Exchange Rate Flexibility and the Expenditure-Switching Effect," IMF Working Papers 2018/213, International Monetary Fund.
    11. Dainauskas, Justas, 2023. "Time-varying exchange rate pass-through into terms of trade," Journal of International Money and Finance, Elsevier, vol. 137(C).
    12. Liu, Yanxin & Li, Huajiao & Guan, Jianhe & Feng, Sida & Guo, Sui, 2019. "The impact of Chinese steel product prices based on the midstream industry chain," Resources Policy, Elsevier, vol. 63(C), pages 1-1.
    13. Radovan Kovaèeviæ, 2017. "Current Account determinants in Southeast European (SEE) countries – panel approach," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 35(2), pages 391-424.
    14. Ivan Trofimov, 2021. "Income terms of trade and economic convergence: Evidence from Latin America," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 46(2), pages 41-67, June.
    15. Fabrice Nzepang & Saturnin Bertrand Nguenda Anya, 2022. "Effects of ICTs on the Terms of Trade of Sub-Saharan African Economies," Journal of African Trade, Springer, vol. 9(1), pages 107-119, December.

  11. Gustavo Adler & Mr. Romain A Duval & Davide Furceri & Ksenia Koloskova & Mr. Marcos Poplawski Ribeiro, 2017. "Gone with the Headwinds: Global Productivity," IMF Staff Discussion Notes 2017/004, International Monetary Fund.

    Cited by:

    1. Ms. Wenjie Chen & Mr. Mico Mrkaic & Mr. Malhar S Nabar, 2019. "The Global Economic Recovery 10 Years After the 2008 Financial Crisis," IMF Working Papers 2019/083, International Monetary Fund.
    2. Romain Duval & Prakash Loungani, 2021. "Designing Labor Market Institutions in Emerging Market and Developing Economies: A Review of Evidence and IMF Policy Advice," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(1), pages 31-83, March.
    3. Huang, Kainan & Cheng, Baodong & Chen, Moyu & Sheng, Yu, 2022. "Assessing impact of the COVID-19 pandemic on China’s TFP growth: Evidence from region-level data in 2020," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 362-377.
    4. Christian R. Proaño & Artur Tarassow, 2017. "Evaluating the predicting power of ordered probit models for multiple business cycle phases in the U.S. and Japan," IMK Working Paper 188-2017, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    5. Elias G. Carayannis & Gaye Acikdilli & Christopher Ziemnowicz, 2020. "Creative Destruction in International Trade: Insights from the Quadruple and Quintuple Innovation Helix Models," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(4), pages 1489-1508, December.
    6. Jin, Peizhen & Peng, Chong & Song, Malin, 2019. "Macroeconomic uncertainty, high-level innovation, and urban green development performance in China," China Economic Review, Elsevier, vol. 55(C), pages 1-18.
    7. Alessandro Mistretta & Francesco Zollino, 2021. "Recent Trends in Economic Activity and TFP in Italy with a Focus on Embodied Technical Progress," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 7(1), pages 79-107, March.
    8. Maarten de Ridder, 2019. "Market Power and Innovation in the Intangible Economy," Discussion Papers 1907, Centre for Macroeconomics (CFM).
    9. Nuno Azevedo, 2018. "Bank credit allocation and productivity: stylised facts for Portugal," Working Papers w201825, Banco de Portugal, Economics and Research Department.
    10. Kilic Celik,Sinem & Kose,Ayhan & Ohnsorge,Franziska Lieselotte, 2020. "Subdued Potential Growth : Sources and Remedies," Policy Research Working Paper Series 9177, The World Bank.
    11. Łukasz Rachel & Lawrence H. Summers, 2019. "On Secular Stagnation in the Industrialized World," NBER Working Papers 26198, National Bureau of Economic Research, Inc.
    12. Tervala, Juha, 2021. "Hysteresis and the welfare costs of recessions," Economic Modelling, Elsevier, vol. 95(C), pages 136-144.
    13. Szunomár, Ágnes, 2019. "A digitális nagy ugrás. Lassulás és modernizációs stratégiaváltás Kínában [The great digital leap. Deceleration and a change in modernisation strategy in China]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1312-1346.
    14. Wenbo Zhu, 2022. "Hollowing Out and Slowing Growth: the Role of Process Innovations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 217-236, July.
    15. Furceri, Davide & Kilic Celik, Sinem & Jalles, João Tovar & Koloskova, Ksenia, 2021. "Recessions and total factor productivity: Evidence from sectoral data," Economic Modelling, Elsevier, vol. 94(C), pages 130-138.
    16. Alessandro Mistretta & Francesco Zollino, 0. "Recent Trends in Economic Activity and TFP in Italy with a Focus on Embodied Technical Progress," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 0, pages 1-29.
    17. Brandt,Loren & Litwack,John & Mileva,Elitza Alexandrova & Wang,Luhang & Zhang,Yifan-000568579 & Zhao,Luan, 2020. "China's Productivity Slowdown and Future Growth Potential," Policy Research Working Paper Series 9298, The World Bank.
    18. Bertrand Gruss & Malhar Nabar & Marcos Poplawski-Ribeiro, 2020. "Growth Accelerations and Reversals in Emerging Market and Developing Economies: External Conditions and Domestic Amplifiers," Open Economies Review, Springer, vol. 31(4), pages 753-786, September.
    19. Dany Bahar, 2017. "The Middle Productivity Trap: Dynamics of Productivity Dispersion," Growth Lab Working Papers 106, Harvard's Growth Lab.
    20. Francesco Manaresi & Nicola Pierri, 2018. "Credit supply and productivity growth," BIS Working Papers 711, Bank for International Settlements.
    21. Krahé, Max, 2023. "Understanding Italy's stagnation," Papers 277913, Dezernat Zukunft - Institute for Macrofinance, Berlin.
    22. Wroński Marcin, 2019. "The productivity growth slowdown in advanced economies: causes and policy recommendations," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 55(4), pages 391-406, December.
    23. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920, September.
    24. José De Gregorio, 2018. "Productivity in Emerging-Market Economies: Slowdown or Stagnation?," Working Paper Series WP18-12, Peterson Institute for International Economics.
    25. Francesco Manaresi & Nicola Pierri, 2018. "Credit supply and productivity growth," Temi di discussione (Economic working papers) 1168, Bank of Italy, Economic Research and International Relations Area.
    26. Jiarui Zhang & Yingying Shi, 2024. "The resource reallocation effect of monetary policy," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 665-683, January.
    27. Philip Barrett & Sonali Das & Giacomo Magistretti & Evgenia Pugacheva & Philippe Wingender, 2023. "Long COVID? Prospects for economic scarring from the pandemic," Contemporary Economic Policy, Western Economic Association International, vol. 41(2), pages 227-242, April.
    28. Dieppe, Alistair & Francis, Neville & Kindberg-Hanlon, Gene, 2021. "Technology and demand drivers of productivity dynamics in developed and emerging market economies," Working Paper Series 2533, European Central Bank.
    29. Krahé, Max, 2023. "Italiens Stagnation verstehen," Papers 277907, Dezernat Zukunft - Institute for Macrofinance, Berlin.
    30. Maarten de Ridder, 2022. "Market power and innovation in the intangible economy," POID Working Papers 064, Centre for Economic Performance, LSE.
    31. Dieppe, Alistair & Francis, Neville & Kindberg-Hanlon, Gene, 2021. "Technological and non-technological drivers of productivity dynamics in developed and emerging market economies," Journal of Economic Dynamics and Control, Elsevier, vol. 131(C).
    32. Furceri Davide & Jalles João Tovar, 2019. "Fiscal counter-cyclicality and productive investment: evidence from advanced economies," The B.E. Journal of Macroeconomics, De Gruyter, vol. 19(1), pages 1-15, January.
    33. Hott, Christian, 2019. "Save or pay-as-you-go: The effcts of ageing on optimal retirement funding," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203642, Verein für Socialpolitik / German Economic Association.
    34. Shekhar Chauhan & P. Arokiasamy, 2018. "India’s demographic dividend: state-wise perspective," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 20(1), pages 1-23, April.
    35. Mr. Geoffrey J Bannister & Mr. Harald Finger & Siddharth Kothari & Ms. Elena Loukoianova, 2020. "Addressing the Pandemic's Medium-Term Fallout in Australia and New Zealand," IMF Working Papers 2020/272, International Monetary Fund.
    36. Mirko Licchetta & Giovanni Mattozzi & Rafal Raciborski & Rupert Willis, 2022. "Economic Adjustment in the Euro Area and the United States during the COVID-19 Crisis," European Economy - Discussion Papers 160, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    37. Christian Abele & Agnès Bénassy-Quéré & Lionel Fontagné, 2020. "One Size Does Not Fit All: TFP in the Aftermath of Financial Crises in Three European Countries," Working Papers halshs-02883685, HAL.
    38. Maarten De Ridder, 2024. "Market Power and Innovation in the Intangible Economy," American Economic Review, American Economic Association, vol. 114(1), pages 199-251, January.
    39. De Ridder, Maarten, 2024. "Market power and innovation in the intangible economy," LSE Research Online Documents on Economics 120285, London School of Economics and Political Science, LSE Library.
    40. Yining Zhang & Zhong Wu, 2021. "Intelligence and Green Total Factor Productivity Based on China’s Province-Level Manufacturing Data," Sustainability, MDPI, vol. 13(9), pages 1-16, April.
    41. Koray Yıldırım & Neşe Algan & Harun Bal, 2024. "Investment Hysteresis: An Empirical Essay Turkish Case," Evaluation Review, , vol. 48(1), pages 143-176, February.
    42. Francesco Manaresi & Mr. Nicola Pierri, 2019. "Credit Supply and Productivity Growth," IMF Working Papers 2019/107, International Monetary Fund.
    43. Manoj Atolia & Mr. Prakash Loungani & Milton Marquis & Mr. Chris Papageorgiou, 2018. "Rethinking Development Policy: Deindustrialization, Servicification and Structural Transformation," IMF Working Papers 2018/223, International Monetary Fund.
    44. Philipp Wegmueller, 2015. "International Evidence on Time-Variation in Trend Labor Productivity Growth," Diskussionsschriften dp1602, Universitaet Bern, Departement Volkswirtschaft.
    45. Yu, Chin-Hsien & Zhao, Jinsong & Qin, Ping & Wang, Shinn-Shyr & Lee, Wen-Chieh, 2022. "Comparison of misallocation between the Chinese thermal power and hydropower electricity industries," Economic Modelling, Elsevier, vol. 116(C).

  12. Gustavo Adler & Mr. Ruy Lama & Juan Pablo Medina Guzman, 2016. "Foreign Exchange Intervention under Policy Uncertainty," IMF Working Papers 2016/067, International Monetary Fund.

    Cited by:

    1. Maryam Mirfatah & Vasco J. Gabriel & Paul Levine, 2021. "Imperfect Exchange Rate Pass-through: Empirical Evidence and Monetary Policy Implications," School of Economics Discussion Papers 0321, School of Economics, University of Surrey.
    2. Cuitiño, María Fernanda & Medina, Juan Pablo & Zacheo, Laura, 2022. "Conditional exchange rate pass-through and monetary policy credibility: Insights from Uruguay and Chile," Economic Modelling, Elsevier, vol. 114(C).
    3. Mr. Yan Carriere-Swallow & Mr. Luis Ignacio Jácome & Mr. Nicolas E Magud & Alejandro M. Werner, 2016. "Central Banking in Latin America: The Way Forward," IMF Working Papers 2016/197, International Monetary Fund.
    4. Fernanda Cuitiño & Juan Pablo Medina & Laura Zacheo, 2021. "Exchange Rate Pass-Through Conditional on Shocks and Monetary Policy Credibility. The Case of Uruguay," Documentos de trabajo 2021008, Banco Central del Uruguay.

  13. Gustavo Adler & Rui Mano, 2016. "The Cost of Foreign Exchange Intervention: Concepts and Measurement," IMF Working Papers 2016/089, International Monetary Fund.

    Cited by:

    1. Naef, Alain, 2022. "Blowing against the Wind? A Narrative Approach to Central Bank Foreign Exchange Intervention," SocArXiv u59gc, Center for Open Science.
    2. Pinter, Julien & Pourroy, Marc, 2023. "How can financial constraints force a central bank to exit a currency peg? An application to the Swiss franc peg," Journal of Macroeconomics, Elsevier, vol. 75(C).
    3. Mr. Damiano Sandri, 2020. "FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability," IMF Working Papers 2020/090, International Monetary Fund.
    4. Youngjin Yun, 2018. "Reserve Accumulation and Bank Lending: Evidence from Korea," GRU Working Paper Series GRU_2018_007, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    5. Pierre-Richard Agénor & Timothy P. Jackson & Luiz Pereira da Silva, 2020. "Foreign Exchange Intervention and Financial Stability," Working Papers 202027, University of Liverpool, Department of Economics.
    6. Olivier Jeanne & Damiano Sandri, 2020. "Global Financial Cycle and Liquidity Management," NBER Working Papers 27901, National Bureau of Economic Research, Inc.
    7. Kevin C. Chua, 2018. "A Model Of Inflation Transmission In An Exchange Rate Target Zone," Bulletin of Economic Research, Wiley Blackwell, vol. 70(3), pages 285-297, July.
    8. Adler, Gustavo & Lisack, Noëmie & Mano, Rui C., 2019. "Unveiling the effects of foreign exchange intervention: A panel approach," Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
    9. Mr. Tobias Adrian & Christopher J. Erceg & Jesper Lindé & Pawel Zabczyk & Ms. Jianping Zhou, 2020. "A Quantitative Model for the Integrated Policy Framework," IMF Working Papers 2020/122, International Monetary Fund.
    10. Francesca Caselli, 2017. "Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?," IMF Working Papers 2017/206, International Monetary Fund.
    11. International Monetary Fund, 2016. "Asean-5 Cluster Report: Evolution of Monetary Policy Frameworks," IMF Staff Country Reports 2016/176, International Monetary Fund.
    12. Jose Eduardo Gomez‐Gonzalez & Julian Andres Parra‐Polania & Mauricio Villamizar‐Villegas, 2021. "More than words: Foreign exchange intervention under imperfect credibility," Bulletin of Economic Research, Wiley Blackwell, vol. 73(4), pages 499-507, October.
    13. Martin Vesna, 2020. "Intervention Strategies in Foreign Exchange Market," Economic Themes, Sciendo, vol. 58(3), pages 381-399, September.
    14. Pongpitch Amatyakul & Tosapol Apaitan & Savaphol Hiruntiaranakul & Nuwat Nookhwun, 2021. "Revisiting Thailand's Monetary Policy Model for an Integrated Policy Analysis," PIER Discussion Papers 164, Puey Ungphakorn Institute for Economic Research.

  14. Gustavo Adler & Noemie Lisack & Rui Mano, 2015. "Unveiling the Effects of Foreign Exchange Intervention: A Panel Approach," IMF Working Papers 2015/130, International Monetary Fund.

    Cited by:

    1. Sigal Ribon, 2017. "Why the Bank of Israel Intervenes in the Foreign Exchange Market, and What Happens to the Exchange Rate," Bank of Israel Working Papers 2017.04, Bank of Israel.
    2. Linda S. Goldberg & Signe Krogstrup, 2023. "International Capital Flow Pressures and Global Factors," NBER Working Papers 30887, National Bureau of Economic Research, Inc.
    3. Naef, Alain, 2022. "Blowing against the Wind? A Narrative Approach to Central Bank Foreign Exchange Intervention," SocArXiv u59gc, Center for Open Science.
    4. Milan Nedeljkovic & Christian Saborowski, 2019. "The Relative Effectiveness of Spot and Derivatives‐Based Intervention," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(6), pages 1455-1490, September.
    5. Filardo, Andrew & Gelos, Gaston & McGregor, Thomas, 2022. "Exchange-Rate Swings and Foreign Currency Intervention," CEPR Discussion Papers 17570, C.E.P.R. Discussion Papers.
    6. Arango-Lozano, Lucía & Menkhoff, Lukas & Rodríguez-Novoa, Daniela & Villamizar-Villegas, Mauricio, 2024. "The effectiveness of FX interventions: A meta-analysis," Journal of Financial Stability, Elsevier, vol. 74(C).
    7. Woo Jin Choi & Alan M. Taylor, 2017. "Precaution Versus Mercantilism: Reserve Accumulation, Capital Controls, and the Real Exchange Rate," NBER Working Papers 23341, National Bureau of Economic Research, Inc.
    8. Hertrich Markus, 2016. "The Costs of Implementing a Unilateral One-Sided Exchange Rate Target Zone," Review of Economics, De Gruyter, vol. 67(1), pages 91-120, May.
    9. Adler, Gustavo & Chang, Kyun Suk & Wang, Zijiao, 2021. "Patterns of foreign exchange intervention under inflation targeting," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
    10. Mr. Damiano Sandri, 2020. "FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability," IMF Working Papers 2020/090, International Monetary Fund.
    11. Hertrich, Markus & Nathan, Daniel, 2022. "Foreign exchange interventions and their impact on expectations: Evidence from the USD/ILS options market," Discussion Papers 20/2022, Deutsche Bundesbank.
    12. Mile Bošnjak & Vlatka Bilas & Gordana Kordić, 2020. "Determinants Of Foreign Exchange Reserves In Serbia And North Macedonia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 65(226), pages 103-120, July – Se.
    13. Christian Daude & Eduardo Levy Yeyati & Arne Nagengast, 2014. "On the Effectiveness of Exchange Rate Interventions in Emerging Markets," CID Working Papers 288, Center for International Development at Harvard University.
    14. Menkhoff, Lukas & Rieth, Malte & Stöhr, Tobias, 2021. "The Dynamic Impact of FX Interventions on Financial Markets," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 103(5), pages 939-953.
    15. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
    16. Jeffrey Frankel, 2019. "Systematic Managed Floating," Open Economies Review, Springer, vol. 30(2), pages 255-295, April.
    17. David KRIZEK & Josef BRCAK, 2021. "Support for export as a non-standard Central Bank policy: foreign exchange interventions in the case of the Czech Republic," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12, pages 191-218, June.
    18. Marcel Fratzscher & Oliver Gloede & Lukas Menkhoff & Lucio Sarno & Tobias Stöhr, 2019. "When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(1), pages 132-156, January.
    19. Waldo Mendoza Bellido, 2017. "La macroeconomía de la flotación sucia en una economía primario exportadora: el caso del Perú," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, vol. 40(79), pages 105-132.
    20. Gustavo Adler & Mr. Ruy Lama & Juan Pablo Medina Guzman, 2016. "Foreign Exchange Intervention under Policy Uncertainty," IMF Working Papers 2016/067, International Monetary Fund.
    21. Guido M. Kuersteiner & David C. Phillips & Mauricio Villamizar-Villegas, 2016. "Effective Sterilized Foreign Exchange Intervention? Evidence from a Rule-Based Policy," Borradores de Economia 964, Banco de la Republica de Colombia.
    22. Rashad Ahmed & Joshua Aizenman & Yothin Jinjarak, 2019. "Inflation and Exchange Rate Targeting Challenges Under Fiscal Dominance," NBER Working Papers 25996, National Bureau of Economic Research, Inc.
    23. Alexander Rodnyansky & Yannick Timmer & Naoki Yago, 2023. "Intervening against the Fed," CESifo Working Paper Series 10575, CESifo.
    24. Mr. Balazs Csonto & Tryggvi Gudmundsson, 2020. "Destabilizing Stability? Exchange Rate Arrangements and Foreign Currency Debt," IMF Working Papers 2020/173, International Monetary Fund.
    25. Kim, Minsuk & Mano, Rui C. & Mrkaic, Mico, 2024. "Do FX interventions lead to higher FX debt? Evidence from firm-level data," Journal of International Money and Finance, Elsevier, vol. 148(C).
    26. Alain Naef & Jacob P. Weber, 2021. "Regional How Powerful is Unannounced, Sterilized Foreign Exchange Intervention?," Working papers 834, Banque de France.
    27. Suman S. Basu & Atish R. Ghosh & Jonathan D. Ostry & Pablo E. Winant, 2018. "Managing Capital Outflows with Limited Reserves," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(2), pages 333-374, June.
    28. Brandao-Marques, Luis & Harjes, Thomas & Sahay, Ratna & Xue, Yi & Gelos, Gaston, 2021. "Monetary Policy Transmission in Emerging Markets and Developing Economies," CEPR Discussion Papers 15931, C.E.P.R. Discussion Papers.
    29. Naef, Alain & Weber, Jacob, 2021. "How Powerful Is Unannounced, Sterilized Foreign Exchange Intervention?," SocArXiv bfehz, Center for Open Science.
    30. Viziniuc, Mădălin, 2021. "Winners and losers of central bank foreign exchange interventions," Economic Modelling, Elsevier, vol. 94(C), pages 748-767.
    31. Haihong Gao & Yingting Li, 2020. "The Renminbi as a Trading Currency: Evidence from Selected Countries Participating in the Belt and Road Initiative," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 28(5), pages 45-63, September.
    32. Gelos, Gaston & Gornicka, Lucyna & Koepke, Robin & Sahay, Ratna & Sgherri, Silvia, 2021. "Capital Flows at Risk: Taming the Ebbs and Flows," CEPR Discussion Papers 15842, C.E.P.R. Discussion Papers.
    33. Mr. Tobias Adrian & Christopher J. Erceg & Jesper Lindé & Pawel Zabczyk & Ms. Jianping Zhou, 2020. "A Quantitative Model for the Integrated Policy Framework," IMF Working Papers 2020/122, International Monetary Fund.
    34. Luna Santos, Francisco, 2021. "Comparing the impact of discretionary and pre-announced central bank interventions," Journal of International Money and Finance, Elsevier, vol. 110(C).
    35. Marcel Fratzscher & Tobias Heidland & Lukas Menkhoff & Lucio Sarno & Maik Schmeling, 2020. "Foreign Exchange Intervention: A New Database," Discussion Papers of DIW Berlin 1915, DIW Berlin, German Institute for Economic Research.
    36. Mr. Luis M. Cubeddu & Signe Krogstrup & Gustavo Adler & Mr. Pau Rabanal & Mai Dao & Mrs. Swarnali A Hannan & Luciana Juvenal & Ms. Carolina Osorio-Buitron & Cyril Rebillard & Mr. Daniel Garcia-Macia &, 2019. "The External Balance Assessment Methodology: 2018 Update," IMF Working Papers 2019/065, International Monetary Fund.
    37. Kugler, Peter, 2020. "The Short-Run Impact of SNB Sight Deposits on Exchange Rates: Results from Weekly Data 2015 - 2018," Working papers 2020/04, Faculty of Business and Economics - University of Basel.
    38. Parra-Polanía, Julián & Sánchez-Jabba, Andrés & Sarmiento, Miguel, 2024. "Are FX communications effective? Evidence from emerging markets," Emerging Markets Review, Elsevier, vol. 59(C).
    39. Francesca Caselli, 2017. "Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?," IMF Working Papers 2017/206, International Monetary Fund.
    40. Tamim Bayoumi & Joseph E. Gagnon & Juan M. Londono & Christian Saborowski & Horacio Sapriza, 2017. "Unconventional Monetary and Exchange Rate Policies," International Finance Discussion Papers 1194, Board of Governors of the Federal Reserve System (U.S.).
    41. Naef, Alain, 2024. "Blowing against the Wind? a narrative approach to central Bank foreign exchange intervention," Journal of International Money and Finance, Elsevier, vol. 146(C).
    42. Itamar Caspi & Amit Friedman & Sigal Ribon, 2018. "The Immediate Impact and Persistent Effect of FX Purchases on the Exchange Rate," Bank of Israel Working Papers 2018.04, Bank of Israel.
    43. Garcia-Cicco Javier & Bucacos Elizabeth & Mello Miguel, 2023. "Foreign Exchange Interventions and Foreign Shocks: The case of Uruguay," Asociación Argentina de Economía Política: Working Papers 4657, Asociación Argentina de Economía Política.
    44. Adler, Gustavo & Mano, Rui C., 2021. "The Cost of Foreign Exchange Intervention: Concepts and Measurement," Journal of Macroeconomics, Elsevier, vol. 67(C).
    45. David de Villiers & Hylton Hollander & Dawie van Lill, 2023. "The effectiveness of macroprudential policies in managing extreme capital flow episodes," Working Papers 06/2023, Stellenbosch University, Department of Economics.
    46. Jorge Arenas & Stephany Griffith-Jones, 2023. "Effectiveness of Foreign Exchange Interventions: Evidence and Lessons from Chile," Working Papers Central Bank of Chile 983, Central Bank of Chile.
    47. Kathryn M. E. Dominguez, 2020. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 693-719, September.
    48. Mr. Cian Allen & Camila Casas & Mr. Giovanni Ganelli & Luciana Juvenal & Mr. Daniel Leigh & Mr. Pau Rabanal & Cyril Rebillard & Jair Rodriguez & João Tovar Jalles, 2023. "2022 Update of the External Balance Assessment Methodology," IMF Working Papers 2023/047, International Monetary Fund.
    49. Mustapha A. Akinkunmi, 2017. "Rebound Effects of Exchange Rate and Central Bank Interventions in Selected ECOWAS Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 489-500.
    50. International Monetary Fund, 2016. "Asean-5 Cluster Report: Evolution of Monetary Policy Frameworks," IMF Staff Country Reports 2016/176, International Monetary Fund.
    51. Jorge Arenas & Stephany Griffith-Jones, 2023. "Effectiveness of Foreign Exchange Interventions Evidence and Lessons from Chile," Working Papers wp546, University of Chile, Department of Economics.
    52. Pablo Winant & Jonathan Ostry & Atish Ghosh & Suman Basu, 2016. "Managing Capital Outflows: The Role of Foreign Exchange Intervention," 2016 Meeting Papers 756, Society for Economic Dynamics.
    53. Ai-Chi Hsu & Fiesty Utami, 2016. "Central Bank Intervention and Stock Market Response," International Journal of Business and Administrative Studies, Professor Dr. Bahaudin G. Mujtaba, vol. 2(5), pages 151-161.
    54. Grahame Johnson & Sharon Kozicki & Romanos Priftis & Lena Suchanek & Jonathan Witmer & Jing Yang, 2020. "Implementation and Effectiveness of Extended Monetary Policy Tools: Lessons from the Literature," Discussion Papers 2020-16, Bank of Canada.
    55. Mr. Yan Carriere-Swallow & Mr. Luis Ignacio Jácome & Mr. Nicolas E Magud & Alejandro M. Werner, 2016. "Central Banking in Latin America: The Way Forward," IMF Working Papers 2016/197, International Monetary Fund.
    56. Smita Roy Trivedi, 2020. "The Moses effect: can central banks really guide foreign exchange markets?," Empirical Economics, Springer, vol. 58(6), pages 2837-2865, June.

  15. Gustavo Adler & Mr. Eugenio M Cerutti, 2015. "Are Foreign Banks a 'Safe Haven'? Evidence from Past Banking Crises," IMF Working Papers 2015/043, International Monetary Fund.

    Cited by:

    1. Kouretas, Georgios P. & Pawłowska, Małgorzata, 2020. "Does change in the market structure have any impact on different types of bank loans in the EU?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 65(C).

  16. Olivier Blanchard & Gustavo Adler & Irineu de Carvalho Filho, 2015. "Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?," NBER Working Papers 21427, National Bureau of Economic Research, Inc.

    Cited by:

    1. Sigal Ribon, 2017. "Why the Bank of Israel Intervenes in the Foreign Exchange Market, and What Happens to the Exchange Rate," Bank of Israel Working Papers 2017.04, Bank of Israel.
    2. ABBUY, Kwami Edem, 2018. "An Empirical Test for the Effectiveness of Central Bank Interventions in Foreign Exchange Markets: An Application to the Canadian and Swiss Central Banks," MPRA Paper 89647, University Library of Munich, Germany.
    3. Naef, Alain, 2022. "Blowing against the Wind? A Narrative Approach to Central Bank Foreign Exchange Intervention," SocArXiv u59gc, Center for Open Science.
    4. Sebastián Fanelli & Ludwig Straub, 2021. "A Theory of Foreign Exchange Interventions [The Cost of Foreign Exchange Intervention: Concepts and Measurement]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(6), pages 2857-2885.
    5. Milan Nedeljkovic & Christian Saborowski, 2019. "The Relative Effectiveness of Spot and Derivatives‐Based Intervention," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(6), pages 1455-1490, September.
    6. Filardo, Andrew & Gelos, Gaston & McGregor, Thomas, 2022. "Exchange-Rate Swings and Foreign Currency Intervention," CEPR Discussion Papers 17570, C.E.P.R. Discussion Papers.
    7. Arango-Lozano, Lucía & Menkhoff, Lukas & Rodríguez-Novoa, Daniela & Villamizar-Villegas, Mauricio, 2024. "The effectiveness of FX interventions: A meta-analysis," Journal of Financial Stability, Elsevier, vol. 74(C).
    8. Alexey Ponomarenko, 2019. "Do sterilized foreign exchange interventions create money?," Bank of Russia Working Paper Series wps40, Bank of Russia.
    9. Rodrigo Barbone Gonzalez & Dmitry Khametshin & José-Luis Peydró & Andrea Polo, 2018. "Hedger of last resort: Evidence from Brazilian FX interventions, local credit, and global financial cycles," Economics Working Papers 1648, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2022.
    10. Rui C. Mano & Silvia Sgherri, 2024. "One Shock, Many Policy Responses," Open Economies Review, Springer, vol. 35(2), pages 395-420, April.
    11. Woo Jin Choi & Alan M. Taylor, 2017. "Precaution Versus Mercantilism: Reserve Accumulation, Capital Controls, and the Real Exchange Rate," NBER Working Papers 23341, National Bureau of Economic Research, Inc.
    12. Paul Castillo & Juan Pablo Medina, 2021. "Foreign Exchange Intervention, Capital Flows, and Liability Dollarization," GRU Working Paper Series GRU_2021_027, City University of Hong Kong, Department of Economics and Finance, Global Research Unit, revised 25 Jul 2021.
    13. Ostry, Jonathan D. & Ghosh, Atish R. & Blanchard, Olivier & Chamon, Marcos, 2015. "Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence," CEPR Discussion Papers 10909, C.E.P.R. Discussion Papers.
    14. Boris Hofmann & Hyun Song Shin & Mauricio Villamizar-Villegas, 2019. "FX intervention and domestic credit: evidence from high-frequency micro data," Borradores de Economia 1069, Banco de la Republica de Colombia.
    15. Pinter, Julien & Pourroy, Marc, 2023. "How can financial constraints force a central bank to exit a currency peg? An application to the Swiss franc peg," Journal of Macroeconomics, Elsevier, vol. 75(C).
    16. Esteves, Rui & Eichengreen, Barry, 2019. "The Trials of the Trilemma: International Finance 1870-2017," CEPR Discussion Papers 13465, C.E.P.R. Discussion Papers.
    17. Adler, Gustavo & Chang, Kyun Suk & Wang, Zijiao, 2021. "Patterns of foreign exchange intervention under inflation targeting," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
    18. Mr. Damiano Sandri, 2020. "FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability," IMF Working Papers 2020/090, International Monetary Fund.
    19. Igor Martins & Hedibert Freitas Lopes, 2024. "What events matter for exchange rate volatility ?," Papers 2411.16244, arXiv.org.
    20. Mile Bošnjak & Vlatka Bilas & Gordana Kordić, 2020. "Determinants Of Foreign Exchange Reserves In Serbia And North Macedonia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 65(226), pages 103-120, July – Se.
    21. Bacchetta, Philippe & van Wincoop, Eric, 2017. "Gradual Portfolio Adjustment: Implications for Global Equity Portfolios and Returns," CEPR Discussion Papers 11983, C.E.P.R. Discussion Papers.
    22. Christian Daude & Eduardo Levy Yeyati & Arne Nagengast, 2014. "On the Effectiveness of Exchange Rate Interventions in Emerging Markets," CID Working Papers 288, Center for International Development at Harvard University.
    23. Joshua Aizenman, 2015. "International Coordination and Precautionary Policies," NBER Working Papers 21793, National Bureau of Economic Research, Inc.
    24. Menkhoff, Lukas & Rieth, Malte & Stöhr, Tobias, 2021. "The Dynamic Impact of FX Interventions on Financial Markets," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 103(5), pages 939-953.
    25. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
    26. Jeffrey Frankel, 2019. "Systematic Managed Floating," Open Economies Review, Springer, vol. 30(2), pages 255-295, April.
    27. Pierre-Richard Agénor & Timothy P. Jackson & Luiz Pereira da Silva, 2020. "Foreign Exchange Intervention and Financial Stability," Working Papers 202027, University of Liverpool, Department of Economics.
    28. Albagli, Elias & Ceballos, Luis & Claro, Sebastian & Romero, Damian, 2024. "UIP deviations: Insights from event studies," Journal of International Economics, Elsevier, vol. 148(C).
    29. Didarul Islam & Mohammad Abdullah Al Faisal, 2024. "Determinants of Uruguay's Real Effective Exchange Rate: A Mundell-Fleming Model Approach," Papers 2403.16452, arXiv.org.
    30. David KRIZEK & Josef BRCAK, 2021. "Support for export as a non-standard Central Bank policy: foreign exchange interventions in the case of the Czech Republic," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12, pages 191-218, June.
    31. Jeffrey Frankel, 2015. "The Plaza Accord, 30 Years Later," NBER Working Papers 21813, National Bureau of Economic Research, Inc.
    32. Marcel Fratzscher & Oliver Gloede & Lukas Menkhoff & Lucio Sarno & Tobias Stöhr, 2019. "When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(1), pages 132-156, January.
    33. Gustavo Adler & Mr. Ruy Lama & Juan Pablo Medina Guzman, 2016. "Foreign Exchange Intervention under Policy Uncertainty," IMF Working Papers 2016/067, International Monetary Fund.
    34. Guido M. Kuersteiner & David C. Phillips & Mauricio Villamizar-Villegas, 2016. "Effective Sterilized Foreign Exchange Intervention? Evidence from a Rule-Based Policy," Borradores de Economia 964, Banco de la Republica de Colombia.
    35. Linda S. Goldberg & Signe Krogstrup, 2018. "International capital flow pressures," Staff Reports 834, Federal Reserve Bank of New York.
    36. Thomas Goda & Jan Priewe, 2019. "Determinants of real exchange rate movements in 15 emerging market economies," Documentos de Trabajo de Valor Público 17468, Universidad EAFIT.
    37. Mr. Balazs Csonto & Tryggvi Gudmundsson, 2020. "Destabilizing Stability? Exchange Rate Arrangements and Foreign Currency Debt," IMF Working Papers 2020/173, International Monetary Fund.
    38. Olivier Jeanne & Damiano Sandri, 2020. "Global Financial Cycle and Liquidity Management," NBER Working Papers 27901, National Bureau of Economic Research, Inc.
    39. Sergeyev, Dmitriy & Iovino, Luigi, 2018. "Central Bank Balance Sheet Policies Without Rational Expectations," CEPR Discussion Papers 13100, C.E.P.R. Discussion Papers.
    40. Lukas Boer, 2019. "Measuring the Effect of Foreign Exchange Intervention Policies on Exchange Rates," DIW Roundup: Politik im Fokus 128, DIW Berlin, German Institute for Economic Research.
    41. Kim, Minsuk & Mano, Rui C. & Mrkaic, Mico, 2024. "Do FX interventions lead to higher FX debt? Evidence from firm-level data," Journal of International Money and Finance, Elsevier, vol. 148(C).
    42. Ouyang, Alice Y. & Guo, Shen, 2019. "Macro-prudential policies, the global financial cycle and the real exchange rate," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 147-167.
    43. Adler, Gustavo & Lisack, Noëmie & Mano, Rui C., 2019. "Unveiling the effects of foreign exchange intervention: A panel approach," Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
    44. Grintzalis, Ioannis & Lodge, David & Manu, Ana-Simona, 2017. "The implications of global and domestic credit cycles for emerging market economies: measures of finance-adjusted output gaps," Working Paper Series 2034, European Central Bank.
    45. Alain Naef & Jacob P. Weber, 2021. "Regional How Powerful is Unannounced, Sterilized Foreign Exchange Intervention?," Working papers 834, Banque de France.
    46. Suman S. Basu & Atish R. Ghosh & Jonathan D. Ostry & Pablo E. Winant, 2018. "Managing Capital Outflows with Limited Reserves," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(2), pages 333-374, June.
    47. Carrasco, Alex & Florián, David & Nivín, Rafael, 2019. "SFX Interventions, Financial Intermediation, and External Shocks in Emerging Economies," Working Papers 2019-022, Banco Central de Reserva del Perú.
    48. Bertrand Gruss & Malhar Nabar & Marcos Poplawski-Ribeiro, 2020. "Growth Accelerations and Reversals in Emerging Market and Developing Economies: External Conditions and Domestic Amplifiers," Open Economies Review, Springer, vol. 31(4), pages 753-786, September.
    49. Monnet, Eric & bazot, guillaume & Morys, Matthias, 2019. "Taming the Global Financial Cycle: Central Banks and the Sterilization of Capital Flows in the First Era of Globalization (1891," CEPR Discussion Papers 13895, C.E.P.R. Discussion Papers.
    50. Naef, Alain & Weber, Jacob, 2021. "How Powerful Is Unannounced, Sterilized Foreign Exchange Intervention?," SocArXiv bfehz, Center for Open Science.
    51. Ferrero, Andrea & Habib, Maurizio Michael & Stracca, Livio & Venditti, Fabrizio, 2022. "Leaning against the global financial cycle," Working Paper Series 2763, European Central Bank.
    52. Eduardo Levy Yeyati & Jimena Zúñiga, 2015. "Varieties of capital flows: What do we know," Business School Working Papers 2015-01, Universidad Torcuato Di Tella.
    53. Guschanski, Alexander & Stockhammer, Engelbert, 2017. "Are current accounts driven by competitiveness or asset prices? A synthetic model and an empirical test," Greenwich Papers in Political Economy 17935, University of Greenwich, Greenwich Political Economy Research Centre.
    54. Wenbo Wang & Dieu Thanh Le & Hail Park, 2020. "Is Foreign Exchange Intervention a Panacea in Diversified Circumstances? The Perspectives of Asymmetric Effects," Sustainability, MDPI, vol. 12(7), pages 1-20, April.
    55. Mr. Tobias Adrian & Christopher J. Erceg & Jesper Lindé & Pawel Zabczyk & Ms. Jianping Zhou, 2020. "A Quantitative Model for the Integrated Policy Framework," IMF Working Papers 2020/122, International Monetary Fund.
    56. Mitsuru Katagiri, 2024. "Systematic Foreign Exchange Intervention and Macroeconomic Stability: A Bayesian DSGE Approach," International Journal of Central Banking, International Journal of Central Banking, vol. 20(2), pages 291-342, April.
    57. Catalán-Herrera, Juan, 2016. "Foreign exchange market interventions under inflation targeting: The case of Guatemala," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 42(C), pages 101-114.
    58. Marcel Fratzscher & Tobias Heidland & Lukas Menkhoff & Lucio Sarno & Maik Schmeling, 2020. "Foreign Exchange Intervention: A New Database," Discussion Papers of DIW Berlin 1915, DIW Berlin, German Institute for Economic Research.
    59. Alain Naef, 2021. "Dirty float or clean intervention? The Bank of England in the foreign exchange market," European Review of Economic History, European Historical Economics Society, vol. 25(1), pages 180-201.
    60. Ceron, Marcos & Nivin, Rafael & Yamunaque, Diego, 2023. "FX intervention and domestic credit in a partially dollarized economy: Evidence using microdata from Peru," Working Papers 2023-009, Banco Central de Reserva del Perú.
    61. Bertrand Gruss & Mr. Malhar S Nabar & Mr. Marcos Poplawski Ribeiro, 2019. "Domestic Amplifiers of External Shocks: Growth Accelerations and Reversals in Emerging Market and Developing Economies," IMF Working Papers 2019/128, International Monetary Fund.
    62. Emanuel Kohlscheen & Fernando Avalos & Andreas Schrimpf, 2017. "When the Walk Is Not Random: Commodity Prices and Exchange Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(2), pages 121-158, June.
    63. Olivier Blanchard & Jonathan D. Ostry & Atish R. Ghosh & Marcos Chamon, 2016. "Capital Flows: Expansionary or Contractionary?," American Economic Review, American Economic Association, vol. 106(5), pages 565-569, May.
    64. Beckmann, Joscha & Czudaj, Robert, 2017. "Capital flows and GDP in emerging economies and the role of global spillovers," Journal of Economic Behavior & Organization, Elsevier, vol. 142(C), pages 140-163.
    65. Francesca Caselli, 2017. "Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?," IMF Working Papers 2017/206, International Monetary Fund.
    66. Joseph E. Gagnon & Tamim Bayoumi & Juan M. Londono & Christian Saborowski & Horacio Sapriza, 2017. "Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies," Open Economies Review, Springer, vol. 28(2), pages 191-232, April.
    67. Tamim Bayoumi & Joseph E. Gagnon & Juan M. Londono & Christian Saborowski & Horacio Sapriza, 2017. "Unconventional Monetary and Exchange Rate Policies," International Finance Discussion Papers 1194, Board of Governors of the Federal Reserve System (U.S.).
    68. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    69. Hui, Cho-Hoi & Lo, Chi-Fai & Liu, Chi-Hei, 2022. "Exchange rate dynamics with crash risk and interventions," International Review of Economics & Finance, Elsevier, vol. 79(C), pages 18-37.
    70. Itamar Caspi & Amit Friedman & Sigal Ribon, 2018. "The Immediate Impact and Persistent Effect of FX Purchases on the Exchange Rate," Bank of Israel Working Papers 2018.04, Bank of Israel.
    71. Garcia-Cicco Javier & Bucacos Elizabeth & Mello Miguel, 2023. "Foreign Exchange Interventions and Foreign Shocks: The case of Uruguay," Asociación Argentina de Economía Política: Working Papers 4657, Asociación Argentina de Economía Política.
    72. Adler, Gustavo & Mano, Rui C., 2021. "The Cost of Foreign Exchange Intervention: Concepts and Measurement," Journal of Macroeconomics, Elsevier, vol. 67(C).
    73. Mr. Anton Korinek & Mr. Damiano Sandri, 2015. "Capital Controls or Macroprudential Regulation?," IMF Working Papers 2015/218, International Monetary Fund.
    74. Nikhil Patel & Paolo Cavllino, 2019. "FX intervention: goals, strategies and tactics," BIS Papers chapters, in: Bank for International Settlements (ed.), Reserve management and FX intervention, volume 104, pages 25-44, Bank for International Settlements.
    75. Elías Albagli & Mauricio Calani & Metodij Hadzi-Vaskov & Mario Marcel & Mr. Luca A Ricci, 2020. "Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile," IMF Working Papers 2020/100, International Monetary Fund.
    76. Habib, Maurizio Michael & Mileva, Elitza & Stracca, Livio, 2017. "The real exchange rate and economic growth: Revisiting the case using external instruments," Journal of International Money and Finance, Elsevier, vol. 73(PB), pages 386-398.
    77. Martin Guzman & José Antonio Ocampo & Joseph E. Stiglitz, 2017. "Real Exchange Rate Policies for Economic Development," NBER Working Papers 23868, National Bureau of Economic Research, Inc.
    78. Yilmazkuday, Hakan, 2021. "Accounting for trade deficits," Journal of International Money and Finance, Elsevier, vol. 115(C).
    79. Kathryn M. E. Dominguez, 2020. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 693-719, September.
    80. Erwin Hansen & Marco Morales, 2021. "When does the Central Bank intervene the foreign exchange market? Estimating a time‐varying threshold intervention function," International Review of Finance, International Review of Finance Ltd., vol. 21(2), pages 688-698, June.
    81. International Monetary Fund, 2016. "Asean-5 Cluster Report: Evolution of Monetary Policy Frameworks," IMF Staff Country Reports 2016/176, International Monetary Fund.
    82. Gardini, Laura & Radi, Davide & Schmitt, Noemi & Sushko, Iryna & Westerhoff, Frank, 2022. "Currency manipulation and currency wars: Analyzing the dynamics of competitive central bank interventions," Journal of Economic Dynamics and Control, Elsevier, vol. 145(C).
    83. Richard T. Froyen & Alfred V. Guender, 2021. "The Mundellian trilemma and optimal monetary policy in a world of high capital mobility," CAMA Working Papers 2021-64, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    84. Pablo Winant & Jonathan Ostry & Atish Ghosh & Suman Basu, 2016. "Managing Capital Outflows: The Role of Foreign Exchange Intervention," 2016 Meeting Papers 756, Society for Economic Dynamics.
    85. Stracca, Livio & Scheubel, Beatrice, 2016. "What do we know about the global financial safety net? Rationale, data and possible evolution," Occasional Paper Series 177, European Central Bank.
    86. Mr. Yan Carriere-Swallow & Mr. Luis Ignacio Jácome & Mr. Nicolas E Magud & Alejandro M. Werner, 2016. "Central Banking in Latin America: The Way Forward," IMF Working Papers 2016/197, International Monetary Fund.
    87. Frömmel, Michael & Midiliç, Murat, 2021. "Daily currency interventions in an emerging market: Incorporating reserve accumulation to the reaction function," Economic Modelling, Elsevier, vol. 97(C), pages 461-476.
    88. Borivoje D. Krušković, 2022. "Central Bank Intervention in the Inflation Targeting," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 11(1), pages 67-85.
    89. Kohler, Karsten & Bonizzi, Bruno & Kaltenbrunner, Annina, 2023. "Global financial uncertainty shocks and external monetary vulnerability: The role of dominance, exposure, and history," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
    90. Bazot, Guillaume & Monnet, Eric & Morys, Matthias, 2019. "Taming the gobal financial cycle: Central banks and the sterilization of capital flows in the first era of globalization," IBF Paper Series 03-19, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.

  17. Gustavo Adler & Marie-Louise Djigbenou & Mr. Sebastian Sosa, 2014. "Global Financial Shocks and Foreign Asset Repatriation: Do Local Investors Play a Stabilizing Role?," IMF Working Papers 2014/060, International Monetary Fund.

    Cited by:

    1. Joaquín Bernal-Ramírez & Jair Ojeda-Joya & Camila Agudelo-Rivera & Felipe Clavijo-Ramírez & Carolina Durana-Ángel & Clark Granger-Castaño & Daniel Osorio-Rodríguez & Daniel Parra-Amado, 2022. "Impacto macroeconómico del cambio climático en Colombia," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, issue 102, pages 1-62, July.
    2. Mr. Olivier J Blanchard & Gustavo Adler & Mr. Irineu E de Carvalho Filho, 2015. "Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?," IMF Working Papers 2015/159, International Monetary Fund.
    3. Thorsten Janus & Daniel Riera-Crichton, 2016. "Banking crises, external crises and gross capital flows," Globalization Institute Working Papers 273, Federal Reserve Bank of Dallas.
    4. Eduardo Olaberría, 2015. "US Long-Term Interest Rates and Capital Flows to Emerging Economies," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 6(02), pages 1-32.
    5. Rodrigo Cifuentes & Alejandro Jara, 2014. "Facing Volatile Capital Flows: The Role of Exchange Rate Flexibility and Foreign Assets," Working Papers Central Bank of Chile 742, Central Bank of Chile.
    6. Pinter, Julien & Pourroy, Marc, 2023. "How can financial constraints force a central bank to exit a currency peg? An application to the Swiss franc peg," Journal of Macroeconomics, Elsevier, vol. 75(C).
    7. Benhima, Kenza & Cordonier, Rachel, 2022. "News, Sentiment and Capital Flows," CEPR Discussion Papers 17012, C.E.P.R. Discussion Papers.
    8. Stephanie Guichard, 2017. "10 Years after the Global Financial Crisis: What Have We Learnt About International Capital Flows?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 1-30, October.
    9. Carlos Arteta & M. Ayhan Kose & Franziska Ohnsorge & Marc Stocker, 2015. "The Coming U.S. Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters?," Policy Research Notes (PRNs) 100014, The World Bank.
    10. Stockhammar, Pär & Österholm, Pär, 2016. "The Impact of US Uncertainty Shocks on Small Open Economies," Working Papers 2016:5, Örebro University, School of Business.
    11. Matthieu Bussière & Julia Schmidt & Natacha Valla, 2018. "International Financial Flows in the New Normal: Key Patterns (and Why We Should Care)," Financial and Monetary Policy Studies, in: Laurent Ferrara & Ignacio Hernando & Daniela Marconi (ed.), International Macroeconomics in the Wake of the Global Financial Crisis, pages 249-269, Springer.
    12. Ms. Yuko Hashimoto & Signe Krogstrup, 2019. "Capital Flows: The Role of Bank and Nonbank Balance Sheets," IMF Working Papers 2019/085, International Monetary Fund.
    13. Magud, Nicolas E. & Vesperoni, Esteban R., 2015. "Exchange rate flexibility and credit during capital inflow reversals: Purgatory … not paradise," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 88-110.
    14. Wang, Xichen & Yan, Ji (Karena) & Yan, Cheng & Gozgor, Giray, 2021. "Emerging stock market exuberance and international short-term flows," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    15. Horvath, Jaroslav & Zhong, Jiansheng, 2019. "Unemployment dynamics in emerging countries: Monetary policy and external shocks," Economic Modelling, Elsevier, vol. 76(C), pages 31-49.
    16. Ferriani, Fabrizio, 2021. "From taper tantrum to Covid-19: Portfolio flows to emerging markets in periods of stress," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    17. Xichen Wang & Cheng Yan, 2022. "Does the Relative Importance of the Push and Pull Factors of Foreign Capital Flows Vary Across Quantiles?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(2), pages 252-299, June.
    18. Cavallo, Eduardo A. & Hernández, Juan & González Jaramillo, María José & Powell, Andrew, 2023. "The Dog That Didn't Bite: Sudden Stops in Emerging and Developing Countries During COVID-19," IDB Publications (Working Papers) 13133, Inter-American Development Bank.

  18. Gustavo Adler & Mr. Sebastian Sosa, 2013. "External Conditions and Debt Sustainability in Latin America," IMF Working Papers 2013/027, International Monetary Fund.

    Cited by:

    1. Juan Carlos Hatchondo & Mr. Francisco Roch & Mr. Leonardo Martinez, 2012. "Fiscal Rules and the Sovereign Default Premium," IMF Working Papers 2012/030, International Monetary Fund.
    2. Gilles Dufrénot & Anne-Charlotte Paret, 2019. "Power-law distribution in the external debt-to-fiscal revenue ratios: Empirical evidence and a theoretical model," Post-Print hal-02158001, HAL.
    3. Branimir Jovanovic & Aneta Krstevska & Neda Popovska-Kamnar, 2015. "Can Monetary Policy Affect Economic Activity under Surplus Liquidity? Some Evidence from Macedonia," Working Papers 2015-03, National Bank of the Republic of North Macedonia.
    4. Gustavo Adler & Sebastian Sosa, 2016. "External Factors in Debt Sustainability Analysis: An Application to Latin America?," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(5), pages 81-120, June.
    5. Gilles Dufrénot & Anne-Charlotte Paret Onorato, 2016. "Power-Law Distribution in the Debt-to-Fiscal Revenue Ratio: Empirical Evidence and a Theoretical Model," AMSE Working Papers 1627, Aix-Marseille School of Economics, France.
    6. Jorge Thompson Araujo & Markus Brueckner & Mateo Clavijo & Ekaterina Vostroknutova & Konstantin M. Wacker, 2014. "Beyond Commodities," World Bank Publications - Reports 21807, The World Bank Group.
    7. Roberto Alvarez & Jose De Gregorio, 2014. "Understanding Differences in Growth Performance in Latin America and Developing Countries between the Asian and Global Financial Crises," Working Paper Series WP14-11, Peterson Institute for International Economics.
    8. Danica Unevska-Andonova & Dijana Janevska-Stefanova, 2015. "Transmission of External Shocks in Assessing Debt Sustainability, the Case of Macedonia," Working Papers 2015-04, National Bank of the Republic of North Macedonia.
    9. Gustavo Adler & Mr. Nicolas E Magud, 2013. "Four Decades of Terms-of-Trade Booms: Saving-Investment Patterns and a New Metric of Income Windfall," IMF Working Papers 2013/103, International Monetary Fund.
    10. João Barata R. B. Barroso, 2014. "External Sustainability and Gross Positions: are Brazilian external accounts sustainable?," Working Papers Series 362, Central Bank of Brazil, Research Department.
    11. Adler, Gustavo & Magud, Nicolas E., 2015. "Four decades of terms-of-trade booms: A metric of income windfall," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 162-192.
    12. Jorge Thompson Araujo & Markus Brueckner & Mateo Clavijo & Ekaterina Vostroknutova & Konstantin M. Wacker, 2014. "Benchmarking the Determinants of Economic Growth in Latin America and the Caribbean," World Bank Publications - Reports 21318, The World Bank Group.

  19. Gustavo Adler & Mr. Nicolas E Magud, 2013. "Four Decades of Terms-of-Trade Booms: Saving-Investment Patterns and a New Metric of Income Windfall," IMF Working Papers 2013/103, International Monetary Fund.

    Cited by:

    1. Trofimov, Ivan D., 2018. "Income terms of trade and economic convergence: Evidence from Latin America," MPRA Paper 87598, University Library of Munich, Germany.
    2. Rhenals Monterrosa, Remberto & Gómez, Wilman, 2013. "La coyuntura macroeconómica reciente," Perfil de Coyuntura Económica, Universidad de Antioquia, CIE, issue 22, pages 9-38, July.
    3. Sèna Kimm Gnangnon, 2018. "Multilateral Trade Liberalization and Terms of Trade Volatility," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 1-21, October.
    4. Faiza Umer & Shaista Alam, 2015. "Trade Openness, Size of Economy and the Saving–Investment Relationship: A Dynamic Analysis for Pakistan," South Asian Journal of Macroeconomics and Public Finance, , vol. 4(2), pages 233-257, December.
    5. Chowdhury, Abdur, 2013. "Terms of Trade Shocks and Private Savings in the Developing Countries," Working Papers and Research 2013-07, Marquette University, Center for Global and Economic Studies and Department of Economics.
    6. Cordella, Tito & Gupta, Poonam, 2015. "What makes a currency procyclical? An empirical investigation," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 240-259.
    7. Federico Filippini & Augusto de la Torre & Alain Ize, "undated". "The Commodity Cycle in Latin America," World Bank Publications - Reports 24014, The World Bank Group.
    8. Lucas Marín-Llanes & Jaime Bonet-Morón & Gerson J. Pérez-Valbuena, 2018. "¿Cuál es la dimensión y en que se gastó la reciente bonanza en Colombia?," Documentos de trabajo sobre Economía Regional y Urbana 273, Banco de la Republica de Colombia.
    9. José Antonio Ocampo & Jonathan Malagón González & Juan Sebastian Betancur, 2015. "La banca central colombiana en una década de expansión, 2003-2013," Books, Universidad Externado de Colombia, Facultad de Economía, edition 1, number 72.
    10. Baja Daza, Gover & Fernández Tellería, Bernardo X. & Zavaleta Castellón, David, 2014. "Diminishing commodity prices and capital flight in a dutch disease and resource curse environment: The case of Bolivia," MPRA Paper 75702, University Library of Munich, Germany, revised Dec 2014.
    11. Jorge Toro & Aarón Garavito & David Camilo López & Enrique Montes, 2015. "El choque petrolero y sus implicaciones en la economía colombiana," Borradores de Economia 906, Banco de la Republica de Colombia.
    12. Tashu, Melesse, 2018. "Determinantes del Tipo de Cambio Real de Equilibrio en Perú: ¿Es el sol una moneda commodity?," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 36, pages 9-30.
    13. Melesse Tashu, 2015. "Drivers of Peru's Equilibrium Real Exchange Rate: Is the Nuevo Sol a Commodity Currency?," IMF Working Papers 2015/026, International Monetary Fund.
    14. Jaime Bonet-Morón & Gerson Javier Pérez-Valbuena & Lucas Marín-Llanes, 2019. "Oil booms and subnational public investment: a case-study for Colombia," Documentos de Trabajo Sobre Economía Regional y Urbana 17701, Banco de la República, Economía Regional.
    15. Daan Steenkamp, 2014. "How volatile are New Zealand’s terms of trade? An international comparison," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 77, pages 3-14, June.
    16. Bertrand Gruss, 2014. "After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean," IMF Working Papers 2014/154, International Monetary Fund.
    17. Adler, Gustavo & Magud, Nicolas E., 2015. "Four decades of terms-of-trade booms: A metric of income windfall," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 162-192.
    18. Mr. Francesco Grigoli & Alexander Herman & Klaus Schmidt-Hebbel, 2015. "Saving in Latin America and the Caribbean: Performance and Policies," IMF Working Papers 2015/108, International Monetary Fund.
    19. Andersson, Martin & Palacio, Andrés, 2019. "The Revival of Agriculture and Inclusive Growth during the Commodity Boom in Latin America?," Lund Papers in Economic History 208, Lund University, Department of Economic History.

  20. Mr. Sebastian Sosa & Gustavo Adler, 2012. "Intra-Regional Spillovers in South America: Is Brazil Systemic After All?," IMF Working Papers 2012/145, International Monetary Fund.

    Cited by:

    1. Gustavo Adler & Marie-Louise Djigbenou & Mr. Sebastian Sosa, 2014. "Global Financial Shocks and Foreign Asset Repatriation: Do Local Investors Play a Stabilizing Role?," IMF Working Papers 2014/060, International Monetary Fund.
    2. Inácio Fernandes de Araújo & Fernando Salgueiro Perobelli & Weslem Rodrigues Faria, 2021. "Regional and global patterns of participation in value chains: Evidence from Brazil," International Economics, CEPII research center, issue 165, pages 154-171.
    3. Olivier Basdevant & Andrew Jonelis & Borislava Mircheva & Slavi Slavov, 2015. "The Mystery of Missing Real Spillovers in Southern Africa: Some Facts and Possible Explanations," South African Journal of Economics, Economic Society of South Africa, vol. 83(3), pages 371-389, September.
    4. International Monetary Fund, 2014. "Uruguay: Staff Report for the 2013 Article IV Consultation," IMF Staff Country Reports 2014/006, International Monetary Fund.
    5. Gustavo Adler & Mr. Sebastian Sosa, 2013. "External Conditions and Debt Sustainability in Latin America," IMF Working Papers 2013/027, International Monetary Fund.
    6. José Luis Nolazco & Patricia Lengua-Lafosse & Nikita Céspedes Reynaga, 2020. "Contribución de los choques externos en el crecimiento económico del Perú: un modelo semi-estructural," Capítulos de libros, in: Nikita Céspedes Reynaga & Norman V. Loayza & Nelson R. Ramírez Rondán (ed.), Crecimiento económico en el Perú: causas y consecuencias, edition 1, volume 1, chapter 3, pages 74-117, Universidad de San Martín de Porres.
    7. Knarik Ayvazyan & Ms. Teresa Daban Sanchez, 2015. "Spillovers from Global and Regional Shocks to Armenia," IMF Working Papers 2015/241, International Monetary Fund.
    8. Angela Ifeanyi Ukemenam & Babatunde Opadeji & Tuwe Soro Garbobiya & Augustine Ujunwa, 2018. "Macroeconomic Effects of Exogenous Oil Price Shock in Nigeria: Persistent or Transitory," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(11), pages 1-28, November.

  21. Mr. Camilo E Tovar Mora & Mr. Pedro Castro & Gustavo Adler, 2012. "Does Central Bank Capital Matter for Monetary Policy?," IMF Working Papers 2012/060, International Monetary Fund.

    Cited by:

    1. Roberto Perotti, 2020. "Understanding the German Criticism of the Target System and the Role of Central Bank capital," NBER Working Papers 27627, National Bureau of Economic Research, Inc.
    2. Juan José Echavarría & Luis Fernando Melo Velandia & Santiago Téllez & Mauricio Villamizar, 2013. "The Impact of Pre-announced Day-to-day Interventions on the Colombian Exchange Rate," Borradores de Economia 10767, Banco de la Republica.
    3. Pierpaolo Benigno & Salvatore Nisticò, 2020. "Non-neutrality of Open-Market Operations," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(3), pages 175-226, July.
    4. Atsushi Tanaka, 2021. "Central Bank Capital and Credibility: A Literature Survey," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(2), pages 249-262, June.
    5. Sascha Buetzer, 2022. "Advancing the Monetary Policy Toolkit through Outright Transfers," IMF Working Papers 2022/087, International Monetary Fund.
    6. Pinter, Julien & Pourroy, Marc, 2023. "How can financial constraints force a central bank to exit a currency peg? An application to the Swiss franc peg," Journal of Macroeconomics, Elsevier, vol. 75(C).
    7. Bartels, Bernd & Weder di Mauro, Beatrice & Eichengreen, Barry, 2017. "No Smoking Gun: Private Shareholders, Governance Rules and Central Bank Financial Behavior," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168251, Verein für Socialpolitik / German Economic Association.
    8. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    9. Bholat, David & Darbyshire, Robin, 2016. "Accounting in central banks," Bank of England working papers 604, Bank of England.
    10. Andreas Hoffmann & Axel Loeffler, 2017. "Surplus liquidity, central bank losses and the use of reserve requirements in emerging markets," Review of International Economics, Wiley Blackwell, vol. 25(5), pages 990-998, November.
    11. Jens Klose, 2018. "Determinants of the Eurosystem's Central Banks Provisions," Scottish Journal of Political Economy, Scottish Economic Society, vol. 65(4), pages 328-349, September.
    12. Mojmir Hampl & Tomas Havranek, 2018. "Central Bank Capital as an Instrument of Monetary Policy," Working Papers IES 2018/25, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2018.
    13. Christophe Blot & Paul Hubert & Jérôme Creel, 2017. "What should the ECB “new normal” look like?," Working Papers hal-01659803, HAL.
    14. Atsushi Tanaka, 2020. "Monetary Base Controllability after an Exit from Quantitative Easing," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(3), pages 123-134.
    15. Jakob Korbinian Eberl, 2016. "The Collateral Framework of the Eurosystem and Its Fiscal Implications," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 69.
    16. Sujan Bandyopadhyay & Rishab Devnani & Sudipta Ghosh & Amartya Lahiri, 2021. "Central bank equity: facts and analytics," Indian Economic Review, Springer, vol. 56(1), pages 255-279, June.
    17. Mr. Andrew J Swiston & Ms. Florencia Frantischek & Mr. Przemek Gajdeczka & Alexander Herman, 2014. "Central Bank Financial Strength in Central America and the Dominican Republic," IMF Working Papers 2014/087, International Monetary Fund.
    18. Julien Pinter, 2018. "Does Central Bank Financial Strength Really Matter for Inflation? The Key Role of the Fiscal Support," Open Economies Review, Springer, vol. 29(5), pages 911-952, November.
    19. Luca Papi, 2024. "Le implicazioni economiche delle perdite delle banche centrali," Working Papers 492, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    20. David Archer & Paul Moser-Boehm, 2013. "Central bank finances," BIS Papers, Bank for International Settlements, number 71, October –.
    21. Nakhli, Mohamed Sahbi & Gaies, Brahim, 2021. "Political risk and financial development in Nigeria: Can credit buy social peace?," The Quarterly Review of Economics and Finance, Elsevier, vol. 82(C), pages 55-62.
    22. Sona Benecka & Tomas Holub & Narcisa Liliana Kadlcakova & Ivana Kubicova, 2012. "Does Central Bank Financial Strength Matter for Inflation? An Empirical Analysis," Working Papers 2012/03, Czech National Bank.
    23. Lixin Sun, 2020. "On the People’s Bank of China’s Financial Strength and Policy Outcomes," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(3), pages 135-161.
    24. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2017. "(Why) Do Central Banks Care About Their Profits?," CESifo Working Paper Series 6546, CESifo.
    25. Monetary Affairs Department, 2023. "Central Bank Finances and Monetary Policy Conduct," Bank of Japan Working Paper Series 23-12-12, Bank of Japan.
    26. Pornpinun Chantapacdepong & Nuttathum Chutasripanich & Bovonvich Jindarak, 2012. "Central Bank Balance Sheet and Policy Implications," Working Papers 2012-07, Monetary Policy Group, Bank of Thailand.
    27. Schwarz Claudia & Karakitsos Polychronis & Merriman Niall & Studener Werner, 2015. "Why Accounting Matters: A Central Bank Perspective," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 5(1), pages 1-42, March.
    28. Atsushi Tanaka, 2020. "Central Bank Capital and Credibility: A Literature Survey," Discussion Paper Series 208, School of Economics, Kwansei Gakuin University, revised May 2020.
    29. Atsushi Tanaka, 2013. "Central Bank Financial Strength and Credibility: A Simple Dynamic Optimization Model," Discussion Paper Series 102, School of Economics, Kwansei Gakuin University, revised Mar 2013.
    30. Atsushi Tanaka, 2018. "Monetary Base Controllability after an Exit from Quantitative Easing," Discussion Paper Series 181, School of Economics, Kwansei Gakuin University, revised Jul 2018.
    31. Mojmir Hampl & Tomas Havranek, 2020. "Central Bank Equity as an Instrument of Monetary Policy," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(1), pages 49-68, March.
    32. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2020. "(Why) do central banks care about their profits?," ECONtribute Discussion Papers Series 018, University of Bonn and University of Cologne, Germany.
    33. Perera, Anil & Ralston, Deborah & Wickramanayake, Jayasinghe, 2013. "Central bank financial strength and inflation: Is there a robust link?," Journal of Financial Stability, Elsevier, vol. 9(3), pages 399-414.
    34. Perotti, Roberto, 2020. "Understanding the German criticism of the Target system and the role of central bank capital," CEPR Discussion Papers 15067, C.E.P.R. Discussion Papers.

  22. Gustavo Adler & Mr. Camilo E Tovar Mora, 2012. "Riding Global Financial Waves: The Economic Impact of Global Financial Shocks on Emerging Market Economies," IMF Working Papers 2012/188, International Monetary Fund.

    Cited by:

    1. Jean-Pierre Allegret, 2012. "Responses of Monetary Authorities in Emerging Economies to International Financial Crises: What Do We Really Know?," Post-Print hal-01385893, HAL.
    2. Almansour, Aseel & Aslam, Aqib & Bluedorn, John & Duttagupta, Rupa, 2015. "How vulnerable are emerging markets to external shocks?," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 460-483.
    3. Donal Smith, 2016. "The International Impact of Financial Shocks: A Global VAR and Connectedness Measures Approach," Discussion Papers 16/07, Department of Economics, University of York.
    4. Kutu Adebayo Augustine & Ngalawa Harold, 2017. "Monetary Policy and Industrial Output in the BRICS Countries: A Markov-Switching Model," Folia Oeconomica Stetinensia, Sciendo, vol. 17(2), pages 35-55, December.
    5. Akdi, Yilmaz & Varlik, Serdar & Berument, M. Hakan, 2020. "Duration of Global Financial Cycles," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 549(C).
    6. Nijat Guliyev, 2018. "The effects of external shocks on Azerbaijan economy," Working Papers 1802, Central Bank of Azerbaijan Republic.
    7. Sithole, Thanda & Simo-Kengne, Beatrice D. & Some, Modeste, 2017. "The role of financial conditions in transmitting external shocks to South Africa," International Economics, Elsevier, vol. 150(C), pages 36-56.
    8. Kosta Josifidis & Jean-Pierre Allegret & Céline Gimet & Emilija Beker Pucar, 2014. "Macroeconomic policy responses to financial crises in emerging European economies," Post-Print halshs-00976661, HAL.
    9. Mr. Abdul d Abiad & Mr. John C Bluedorn & Mr. Jaime Guajardo & Petia Topalova, 2012. "The Rising Resilience of Emerging Market and Developing Economies," IMF Working Papers 2012/300, International Monetary Fund.
    10. Carlos Andrés BALLESTEROS RUIZ & Javier Andrés ROJAS AGUILERA, 2015. "International shocks and the Colombian economy: A Global VAR Approach," Archivos de Economía 13012, Departamento Nacional de Planeación.
    11. Gustavo Adler & Mr. Sebastian Sosa, 2013. "External Conditions and Debt Sustainability in Latin America," IMF Working Papers 2013/027, International Monetary Fund.
    12. Dąbrowski, Marek A. & Wróblewska, Justyna, 2015. "Exchange rate as a shock absorber or a shock propagator in Poland and Slovakia - an approach based on Bayesian SVAR models with common serial correlation," MPRA Paper 61441, University Library of Munich, Germany.
    13. Sharada Nia Davidson, 2022. "Regional Integration and Decoupling in the Asia Pacific: A Bayesian Panel VAR Approach," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(4), pages 773-807, December.
    14. International Monetary Fund, 2017. "Philippines: Selected Issues," IMF Staff Country Reports 2017/335, International Monetary Fund.
    15. Audrey Allegret Sallenave & Jean-Pierre Allegret, 2019. "Did Foreign Exchange Holding Influence Growth Performance During the Global Financial Crisis?," Post-Print hal-03573567, HAL.
    16. Ben Zeev, Nadav, 2019. "Global credit supply shocks and exchange rate regimes," Journal of International Economics, Elsevier, vol. 116(C), pages 1-32.
    17. Christian von Haldenwang & Maksym Ivanyna, 2017. "Does the political resource curse affect public finance?: The vulnerability of tax revenue in resource-rich countries," WIDER Working Paper Series wp-2017-7, World Institute for Development Economic Research (UNU-WIDER).
    18. Dąbrowski, Marek A. & Wróblewska, Justyna, 2016. "Exchange rate as a shock absorber in Poland and Slovakia: Evidence from Bayesian SVAR models with common serial correlation," Economic Modelling, Elsevier, vol. 58(C), pages 249-262.

  23. Gustavo Adler, 2012. "Intertwined Sovereign and Bank Solvencies in a Model of Self-Fulfilling Crisis," IMF Working Papers 2012/178, International Monetary Fund.

    Cited by:

    1. Sau, Lino, 2014. "Debt Deflation Worries: A Restatement," CESMEP Working Papers 201402, University of Turin.
    2. Nedelcu Monica Letitia, 2013. "The Liquidity of the Financial System and the Sovereign Debt Crisis in Europe – Is There a Solution?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 238-243, May.
    3. Lawson, Cornelia & Soós,Sándor, 2014. "A Thematic Mobility Measure for Econometric Analysis," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201408, University of Turin.
    4. Mr. Serkan Arslanalp & Mr. Takahiro Tsuda, 2012. "Tracking Global Demand for Advanced Economy Sovereign Debt," IMF Working Papers 2012/284, International Monetary Fund.
    5. Dungey, Mardi & Gajurel, Dinesh, 2014. "Contagion and banking crisis — internatonal evidence for 2007-2009," Working Papers 2014-10, University of Tasmania, Tasmanian School of Business and Economics.

  24. Gustavo Adler & Mr. Camilo E Tovar Mora, 2011. "Foreign Exchange Intervention: A Shield Against Appreciation Winds?," IMF Working Papers 2011/165, International Monetary Fund.

    Cited by:

    1. Sigal Ribon, 2017. "Why the Bank of Israel Intervenes in the Foreign Exchange Market, and What Happens to the Exchange Rate," Bank of Israel Working Papers 2017.04, Bank of Israel.
    2. ABBUY, Kwami Edem, 2018. "An Empirical Test for the Effectiveness of Central Bank Interventions in Foreign Exchange Markets: An Application to the Canadian and Swiss Central Banks," MPRA Paper 89647, University Library of Munich, Germany.
    3. Carlos A. Ibarra, 2016. "Investment, asset market, and the relative unit labor cost in Mexico," Economic Change and Restructuring, Springer, vol. 49(4), pages 339-364, November.
    4. Roberto Chang, 2019. "Foreign Exchange Intervention Redux," Central Banking, Analysis, and Economic Policies Book Series, in: Álvaro Aguirre & Markus Brunnermeier & Diego Saravia (ed.),Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, edition 1, volume 26, chapter 7, pages 205-247, Central Bank of Chile.
    5. Luis Felipe Céspedes & Andrés Velasco, 2012. "Macroeconomic Performance During Commodity Price Booms and Busts," NBER Working Papers 18569, National Bureau of Economic Research, Inc.
    6. Franz Hamann & Marc Hofstetter & Miguel Urrutia, 2014. "Inflation Targeting in Colombia, 2002-2012," Documentos CEDE 11007, Universidad de los Andes, Facultad de Economía, CEDE.
    7. Sebastián Fanelli & Ludwig Straub, 2021. "A Theory of Foreign Exchange Interventions [The Cost of Foreign Exchange Intervention: Concepts and Measurement]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(6), pages 2857-2885.
    8. Steiner, Andreas, 2013. "The accumulation of foreign exchange by central banks: Fear of capital mobility?," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 409-427.
    9. Jonathan D. Ostry & Atish R. Ghosh & Marcos Chamon, 2015. "Sterilized Foreign Exchange Interventions under Inflation Targeting," Central Banking, Analysis, and Economic Policies Book Series, in: Claudio Raddatz & Diego Saravia & Jaume Ventura (ed.),Global Liquidity, Spillovers to Emerging Markets and Policy Responses, edition 1, volume 20, chapter 7, pages 223-244, Central Bank of Chile.
    10. Olivier Jeanne, 2012. "Capital Account Policies and the Real Exchange Rate," Working Paper Series WP12-14, Peterson Institute for International Economics.
    11. Esteban Pérez Caldentey & Matías Vernengo, 2013. "Is Inflation Targeting Operative in an Open Economy Setting?," Working Papers wp324, Political Economy Research Institute, University of Massachusetts at Amherst.
    12. Jara, Alejandro & Piña, Marco, 2023. "Exchange rate volatility and the effectiveness of FX interventions: The case of Chile," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(2).
    13. Eduardo Levy-Yeyati & Juan Francisco Gómez, 2022. "Leaning-Against-the-Wind Intervention and the “Carry-Trade” View of the Cost of Reserves," Open Economies Review, Springer, vol. 33(5), pages 853-877, November.
    14. Yu-Fu Chen & Michael Funke & Richhild Moessner, 2017. "Informal one-sided target zone model and the Swiss franc," BIS Working Papers 660, Bank for International Settlements.
    15. Ken Miyajima, 2013. "Foreign exchange intervention and expectation in emerging economies," BIS Working Papers 414, Bank for International Settlements.
    16. Shiu‐Sheng Chen & Tzu‐Yu Lin, 2019. "Do Exchange Rate Shocks Have Asymmetric Effects on Reserve Accumulation? Evidence from Emerging Markets," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(4), pages 1561-1586, October.
    17. Mr. Damiano Sandri, 2020. "FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability," IMF Working Papers 2020/090, International Monetary Fund.
    18. Mauricio Villamizar, 2014. "Identifying the Effects of Simultaneous Monetary Policy Shocks. Fear of Floating under Inflation targeting," Borradores de Economia 12010, Banco de la Republica.
    19. Hertrich, Markus & Nathan, Daniel, 2022. "Foreign exchange interventions and their impact on expectations: Evidence from the USD/ILS options market," Discussion Papers 20/2022, Deutsche Bundesbank.
    20. Abdul Rishad & Sanjeev Gupta & Akhil Sharma, 2021. "Official Intervention and Exchange Rate Determination: Evidence from India," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 13(3), pages 357-379, September.
    21. Renee Fry-McKibbin & Sumila Wanaguru, 2012. "Currency Intervention: A Case Study of an Emerging Market," CAMA Working Papers 2012-32, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    22. Christian Daude & Eduardo Levy Yeyati & Arne Nagengast, 2014. "On the Effectiveness of Exchange Rate Interventions in Emerging Markets," CID Working Papers 288, Center for International Development at Harvard University.
    23. Steiner, Andreas, 2017. "Central banks and macroeconomic policy choices: Relaxing the trilemma," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 283-299.
    24. Basu, Kaushik & Varoudakis, Aristomene, 2013. "How to move the exchange rate if you must: the diverse practice of foreign exchange intervention by central banks and a proposal for doing it better," Policy Research Working Paper Series 6460, The World Bank.
    25. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
    26. David KRIZEK & Josef BRCAK, 2021. "Support for export as a non-standard Central Bank policy: foreign exchange interventions in the case of the Czech Republic," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12, pages 191-218, June.
    27. Yasin Kursat Onder & Mauricio Villamizar-Villegas, 2015. "Simultaneous Monetary Policies in the Context of the Trilemma: Evidence from the Central Bank of Turkey," Borradores de Economia 893, Banco de la Republica de Colombia.
    28. Pablo Pincheira, 2013. "Interventions and inflation expectations in an inflation targeting economy," BIS Working Papers 427, Bank for International Settlements.
    29. Jeffrey Frankel, 2015. "The Plaza Accord, 30 Years Later," NBER Working Papers 21813, National Bureau of Economic Research, Inc.
    30. Marcel Fratzscher & Oliver Gloede & Lukas Menkhoff & Lucio Sarno & Tobias Stöhr, 2019. "When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(1), pages 132-156, January.
    31. Ken Miyajima & Carlos Montoro, 2013. "Impact of foreign exchange interventions on exchange rate expectations," BIS Papers chapters, in: Bank for International Settlements (ed.), Sovereign risk: a world without risk-free assets?, volume 73, pages 39-54, Bank for International Settlements.
    32. Rossini, Renzo & Quispe, Zenón & Serrano, Enrique, 2013. "Foreign Exchange Interventions in Peru," Working Papers 2013-016, Banco Central de Reserva del Perú.
    33. Eduardo Levy Yeyati, 2019. "The Cost of Holding Foreign Exchange Reserves," Growth Lab Working Papers 141, Harvard's Growth Lab.
    34. Machinea, José Luis, 2010. "A crise financeira internacional: sua naturaleza e os desafios da política econômica," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), May.
    35. Broto, Carmen, 2013. "The effectiveness of forex interventions in four Latin American countries," Emerging Markets Review, Elsevier, vol. 17(C), pages 224-240.
    36. Eduardo Levy Yeyati & Augusto de la Torre & Samuel Pienknagura, "undated". "Latin America’s Deceleration and the Exchange Rate Buffer : LAC Semiannual Report, October 2013," World Bank Publications - Reports 16107, The World Bank Group.
    37. Suman S. Basu & Atish R. Ghosh & Jonathan D. Ostry & Pablo E. Winant, 2018. "Managing Capital Outflows with Limited Reserves," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(2), pages 333-374, June.
    38. Mauricio Villamizar-Villegas & David Perez-Reyna, 2015. "A Survey on the Effects of Sterilized Foreign Exchange Intervention," Borradores de Economia 862, Banco de la Republica de Colombia.
    39. Mr. Matthew S Malloy, 2013. "Factors Influencing Emerging Market Central Banks’ Decision to Intervene in Foreign Exchange Markets," IMF Working Papers 2013/070, International Monetary Fund.
    40. Guillermo Perry & Eduardo García, 2016. "The Influence of Multilateral Development Institutions on Latin American Development Strategies. Special Issue of International Development Policy on Latin America," Documentos CEDE 14591, Universidad de los Andes, Facultad de Economía, CEDE.
    41. Lukas Menkhoff, 2013. "Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies," The World Economy, Wiley Blackwell, vol. 36(9), pages 1187-1208, September.
    42. Eduardo Levy Yeyati & Jimena Zúñiga, 2015. "Varieties of capital flows: What do we know," Business School Working Papers 2015-01, Universidad Torcuato Di Tella.
    43. Federico Sturzenegger, 2020. "How should Central Banks accumulate reserves?," Working Papers 139, Universidad de San Andres, Departamento de Economia, revised May 2020.
    44. Nuttathum Chutasripanich & James Yetman, 2015. "Foreign exchange intervention: strategies and effectiveness," BIS Working Papers 499, Bank for International Settlements.
    45. Biswajit Banerjee & Juraj Zeman & Ľudovít Ódor & William O. Riiska, 2018. "On the Effectiveness of Central Bank Intervention in the Foreign Exchange Market: The Case of Slovakia, 1999–2007," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(3), pages 442-474, September.
    46. Mr. Camilo E Tovar Mora & Mr. Pedro Castro & Gustavo Adler, 2012. "Does Central Bank Capital Matter for Monetary Policy?," IMF Working Papers 2012/060, International Monetary Fund.
    47. M. Ramachandran, 2023. "Official Intervention, Reserve Accumulation and Exchange Rate Volatility," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 21(2), pages 269-287, June.
    48. Gabriela Mundaca, 2018. "Central bank interventions in a dollarized economy: managed floating versus inflation targeting," Empirical Economics, Springer, vol. 55(4), pages 1507-1535, December.
    49. Mr. Atish R. Ghosh & Mr. Jonathan David Ostry & Mr. Marcos d Chamon, 2012. "Two Targets, Two Instruments: Monetary and Exchange Rate Policies in Emerging Market Economies," IMF Staff Discussion Notes 2012/001, International Monetary Fund.
    50. Tobal Martín & Yslas Renato, 2016. "Two Models of FX Market Interventions: The Cases of Brazil and Mexico," Working Papers 2016-14, Banco de México.
    51. Eduardo Rosas Rojas, 2016. "La intervención cambiaria y los flujos de capital: evidencia empírica para Brasil, Colombia, Chile y México, 2001-2013," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 8(1), pages 31-53, March.
    52. Francesca Caselli, 2017. "Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?," IMF Working Papers 2017/206, International Monetary Fund.
    53. Christian Rohe & Matthias Hartermann, 2015. "The role of external shocks for monetary policy in Colombia and Brazil: A Bayesian SVAR analysis," CQE Working Papers 4215, Center for Quantitative Economics (CQE), University of Muenster.
    54. Phornchanok Cumperayot & Roy Kouwenberg, 2021. "Cheaper currencies and long‐term growth: The effect of exchange rate management and capital controls," The World Economy, Wiley Blackwell, vol. 44(9), pages 2738-2757, September.
    55. Willy Chetwin & Tim Ng & Daan Steenkamp, 2013. "New Zealand’s short- and medium-term real exchange rate volatility: drivers and policy implications," Reserve Bank of New Zealand Analytical Notes series AN2013/03, Reserve Bank of New Zealand.
    56. Naef, Alain, 2024. "Blowing against the Wind? a narrative approach to central Bank foreign exchange intervention," Journal of International Money and Finance, Elsevier, vol. 146(C).
    57. Zdzienicka, Aleksandra, 2022. "Managing External Volatility: Policy Frameworks in Non-Reserve-Issuing Economies," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 4(3), pages 60-98, April.
    58. Luis Cabezas & José Gregorio, 2019. "Accumulation of reserves in emerging and developing countries: mercantilism versus insurance," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 155(4), pages 819-857, November.
    59. Melesse Tashu, 2014. "Motives and Effectiveness of Forex Interventions: Evidence from Peru," IMF Working Papers 2014/217, International Monetary Fund.
    60. Prakash Kumar Shrestha, Ph.D., 2016. "Macroeconomic Impact of International Reserves: Empirical Evidence from South Asia," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 28(1), pages 1-26, April.
    61. Itamar Caspi & Amit Friedman & Sigal Ribon, 2018. "The Immediate Impact and Persistent Effect of FX Purchases on the Exchange Rate," Bank of Israel Working Papers 2018.04, Bank of Israel.
    62. Garcia-Cicco Javier & Bucacos Elizabeth & Mello Miguel, 2023. "Foreign Exchange Interventions and Foreign Shocks: The case of Uruguay," Asociación Argentina de Economía Política: Working Papers 4657, Asociación Argentina de Economía Política.
    63. Adler, Gustavo & Mano, Rui C., 2021. "The Cost of Foreign Exchange Intervention: Concepts and Measurement," Journal of Macroeconomics, Elsevier, vol. 67(C).
    64. Phornchanok Cumperayot Kouwenberg & Roy Kouwenberg, 2016. "Currency Wars: Who Gains from the Battle?," PIER Discussion Papers 18, Puey Ungphakorn Institute for Economic Research.
    65. Shiu‐Sheng Chen & Jen‐Kuan Wang, 2022. "Detecting persistent one‐sided intervention in foreign exchange markets: A simple test," International Finance, Wiley Blackwell, vol. 25(1), pages 23-45, April.
    66. Viola, Alessandra Pasqualina & Klotzle, Marcelo Cabus & Pinto, Antonio Carlos Figueiredo & da Silveira Barbedo, Claudio Henrique, 2019. "Foreign exchange interventions in Brazil and their impact on volatility: A quantile regression approach," Research in International Business and Finance, Elsevier, vol. 47(C), pages 251-263.
    67. Kohlscheen, Emanuel & Andrade, Sandro C., 2014. "Official FX interventions through derivatives," Journal of International Money and Finance, Elsevier, vol. 47(C), pages 202-216.
    68. Martin Guzman & José Antonio Ocampo & Joseph E. Stiglitz, 2017. "Real Exchange Rate Policies for Economic Development," NBER Working Papers 23868, National Bureau of Economic Research, Inc.
    69. Kathryn M. E. Dominguez, 2020. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 693-719, September.
    70. Moura, Marcelo L. & Pereira, Fatima R. & Attuy, Guilherme de Moraes, 2013. "Currency Wars in Action: How Foreign Exchange Interventions Work in an Emerging Economy," Insper Working Papers wpe_304, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    71. Natasia Engeline S & Salomo Posmauli Matondang, 2016. "Early Warning System And Currency Volatility Management In Emerging Market," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 19(2), pages 129-152, October.
    72. Pablo Winant & Jonathan Ostry & Atish Ghosh & Suman Basu, 2016. "Managing Capital Outflows: The Role of Foreign Exchange Intervention," 2016 Meeting Papers 756, Society for Economic Dynamics.
    73. Zelealem Yiheyis & Emmanuel Cleeve, 2016. "Dynamics of the Real Exchange Rate, Inflation, and Output Growth: The Case of Malawi," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(10), pages 23-39, October.
    74. Gabriela Contreras M. & Alfredo Pistelli M. & Camila Sáez M., 2013. "Efecto de Intervenciones Cambiarias Recientes en Economías Emergentes," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 16(1), pages 122-137, April.
    75. Blaise Gadanecz & Aaron Mehrotra & Madhusudan S Mohanty, 2014. "Foreign exchange intervention and the banking system balance sheet in emerging market economies," BIS Working Papers 445, Bank for International Settlements.
    76. Luis Cabezas & José De Gregorio, 2018. "Accumulation of Reserves in Emerging and Developing Countries: Mercantilism vs. Insurance," Working Papers wp467, University of Chile, Department of Economics.
    77. Prasad, Nalini, 2018. "Sterilized interventions and capital controls," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 101-121.
    78. Borivoje D. Krušković, 2022. "Central Bank Intervention in the Inflation Targeting," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 11(1), pages 67-85.

  25. Mr. Sebastian Sosa & Gustavo Adler, 2011. "Commodity Price Cycles: The Perils of Mismanaging the Boom," IMF Working Papers 2011/283, International Monetary Fund.

    Cited by:

    1. Luis Felipe Céspedes & Andrés Velasco, 2012. "Macroeconomic Performance During Commodity Price Booms and Busts," NBER Working Papers 18569, National Bureau of Economic Research, Inc.
    2. Gustavo Adler & Mr. Camilo E Tovar Mora, 2012. "Riding Global Financial Waves: The Economic Impact of Global Financial Shocks on Emerging Market Economies," IMF Working Papers 2012/188, International Monetary Fund.
    3. Gustavo Adler & Sebastián Sosa, 2014. "Intraregional Spillovers in South America: Is Brazil Systemic After All?," The World Economy, Wiley Blackwell, vol. 37(3), pages 456-480, March.
    4. Ignacio Lozano & Ligia Alba Melo B. & Jorge Enrique Ramos F., 2012. "Flujos de capital y política fiscal en las economías emergentes de América Latina," Borradores de Economia 9439, Banco de la Republica.
    5. Luis Ignacio Lozano Espitia & Ligia Alba Melo-Becerra & Jorge Enrique Ramos, 2016. "La política fiscal frente a los flujos de capital: evidencia para algunos países de América Latina," Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia, vol. 35(62), pages 53-85, July.
    6. Jaroslava Durčáková & Ondřej Šíma, 2013. "BRICS: Exchange Rate policy in Context of Internal and External Equilibrium [BRICS: Kurzová politika Brazílie v kontextu vnitřní a vnější rovnováhy]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2013(4), pages 7-29.
    7. West, James & Schandl, Heinz, 2013. "Material use and material efficiency in Latin America and the Caribbean," Ecological Economics, Elsevier, vol. 94(C), pages 19-27.
    8. Gustavo Adler & Sebastian Sosa, 2016. "External Factors in Debt Sustainability Analysis: An Application to Latin America?," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(5), pages 81-120, June.
    9. Pitterle, Ingo & Haufler, Fabio & Hong, Pingfan, 2015. "Assessing emerging markets’ vulnerability to financial crisis," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 484-500.
    10. Ebenezer Laryea & Amin Hosseinian-Far & Simon Derrick, 2023. "Climate Justice Implications of Banning Air-Freighted Fresh Produce," Logistics, MDPI, vol. 7(4), pages 1-18, November.
    11. Calzada Olvera, Beatriz & Foster-McGregor, Neil, 2018. "What is the potential of natural resource based industrialisation in Latin America? An Input-Output analysis of the extractive sectors," MERIT Working Papers 2018-015, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    12. Jorge Fornero & Markus Kirchner & Andrés Yany, 2015. "Terms of Trade Shocks and Investment in Commodity-Exporting Economies," Central Banking, Analysis, and Economic Policies Book Series, in: Rodrigo Caputo & Roberto Chang (ed.),Commodity Prices and Macroeconomic Policy, edition 1, volume 22, chapter 5, pages 135-193, Central Bank of Chile.
    13. Toan Luu Duc Huynh & Muhammad Shahbaz & Muhammad Ali Nasir & Subhan Ullah, 2022. "Financial modelling, risk management of energy instruments and the role of cryptocurrencies," Annals of Operations Research, Springer, vol. 313(1), pages 47-75, June.
    14. Gustavo Adler & Camilo E. Tovar, 2013. "Global Financial Shocks And Their Economic Impact On Emerging Market Economies," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 4(02), pages 1-27.
    15. Gustavo Adler & Mr. Sebastian Sosa, 2013. "External Conditions and Debt Sustainability in Latin America," IMF Working Papers 2013/027, International Monetary Fund.
    16. Balza, Lenin H. & Diaz, Lina M. & Gomez-Parra, Nicolas & Manzano M., Osmel E., 2023. "The unwritten license: The societal SLO in Latin America’s extractive sector," Ecological Economics, Elsevier, vol. 213(C).
    17. Zhandos Ybrayev & Olzhas Kubenbayev & Akylzhan Baimagambetov, 2024. "Macroeconomic effects of fiscal rules for a commodity-exporting economy: avoiding procyclical bias in Kazakhstan," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 17(2), pages 271-294, May.
    18. Kunkler, Michael & MacDonald, Ronald, 2019. "The multilateral relationship between oil and G10 currencies," Energy Economics, Elsevier, vol. 78(C), pages 444-453.
    19. Saldarriaga, Miguel, 2018. "Credit Booms in Commodity Exporters," Working Papers 2018-008, Banco Central de Reserva del Perú.
    20. Gustavo Adler & Mr. Nicolas E Magud, 2013. "Four Decades of Terms-of-Trade Booms: Saving-Investment Patterns and a New Metric of Income Windfall," IMF Working Papers 2013/103, International Monetary Fund.
    21. José Franco Iparraguirre & Fernando Cuyutupac Borja, 2020. "Impacto de los factores externos en el Producto Bruto Interno Peruano durante 1994-2018," Revista de Análisis Económico y Financiero, Universidad de San Martín de Porres, vol. 2(01), pages 64-75.
    22. Bertrand Gruss, 2014. "After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean," IMF Working Papers 2014/154, International Monetary Fund.
    23. Stephen Snudden, 2013. "Cyclical Fiscal Rules for Oil-Exporting Countries," IMF Working Papers 2013/229, International Monetary Fund.
    24. Adler, Gustavo & Magud, Nicolas E., 2015. "Four decades of terms-of-trade booms: A metric of income windfall," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 162-192.

  26. Torsten Wezel & Mr. Mario Mansilla & Gustavo Adler, 2009. "Modernizing Bank Regulation in Support of Financial Deepening: The Case of Uruguay," IMF Working Papers 2009/199, International Monetary Fund.

    Cited by:

    1. International Monetary Fund, 2011. "Uruguay: Selected Issues Paper," IMF Staff Country Reports 2011/063, International Monetary Fund.
    2. Edgardo Demaestri & Jorge Ottavianelli & Gustavo Ferro, 2015. "Integracion de la supervisión financiera en el Banco Central: La experiencia de Uruguay," Estudios Economicos, Universidad Nacional del Sur, Departamento de Economia, vol. 32(64), pages 31-51, january-j.
    3. International Monetary Fund, 2010. "Uruguay: Selected Issues," IMF Staff Country Reports 2010/043, International Monetary Fund.

  27. Gustavo Adler, 2008. "Original Sin and Procylical Fiscal Policy: Two Sides of the Same Coin?," IMF Working Papers 2008/209, International Monetary Fund.

    Cited by:

    1. Ms. Anna Ilyina & Ms. Anastasia Guscina & Herman Kamil, 2010. "Does Procyclical Fiscal Policy Reinforce Incentives to Dollarize Sovereign Debt?," IMF Working Papers 2010/168, International Monetary Fund.

Articles

  1. Adler, Gustavo & Meleshchuk, Sergii & Buitron, Carolina Osorio, 2023. "Global value chains and external adjustment: Do exchange rates still matter?," Economic Modelling, Elsevier, vol. 118(C).
    See citations under working paper version above.
  2. Adler, Gustavo & Mano, Rui C., 2021. "The Cost of Foreign Exchange Intervention: Concepts and Measurement," Journal of Macroeconomics, Elsevier, vol. 67(C).
    See citations under working paper version above.
  3. Adler, Gustavo & Chang, Kyun Suk & Wang, Zijiao, 2021. "Patterns of foreign exchange intervention under inflation targeting," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
    See citations under working paper version above.
  4. Gustavo Adler & Carolina Osorio Buitron, 2020. "Tipping the scale? The workings of monetary policy through trade," Review of International Economics, Wiley Blackwell, vol. 28(3), pages 744-759, August.
    See citations under working paper version above.
  5. Adler, Gustavo & Lama, Ruy & Medina, Juan Pablo, 2019. "Unconventional policies and exchange rate dynamics," Journal of International Money and Finance, Elsevier, vol. 95(C), pages 402-423.
    See citations under working paper version above.
  6. Adler, Gustavo & Lama, Ruy & Medina, Juan Pablo, 2019. "Foreign exchange intervention and inflation targeting: The role of credibility," Journal of Economic Dynamics and Control, Elsevier, vol. 106(C), pages 1-1.

    Cited by:

    1. Javier Garcia-Cicco, 2022. "Alternative monetary-policy instruments and limited credibility: an exploration," BIS Working Papers 1020, Bank for International Settlements.
    2. Adler, Gustavo & Chang, Kyun Suk & Wang, Zijiao, 2021. "Patterns of foreign exchange intervention under inflation targeting," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
    3. Rashad Ahmed & Joshua Aizenman & Yothin Jinjarak, 2019. "Inflation and Exchange Rate Targeting Challenges Under Fiscal Dominance," NBER Working Papers 25996, National Bureau of Economic Research, Inc.
    4. Thitipat Chansriniyom & Mr. Natan P. Epstein & Valeriu Nalban, 2020. "The Monetary Policy Credibility Channel and the Amplification Effects in a Semi-structural Model," IMF Working Papers 2020/201, International Monetary Fund.
    5. Oleg S. Sukharev, 2020. "Inflation control and adequacy of targeting to economic growth policy," Upravlenets, Ural State University of Economics, vol. 11(1), pages 33-44, March.
    6. Eli Direye & Tarron Khemraj, 2022. "Central bank securities and foreign exchange market intervention in a developing economy," Review of Development Economics, Wiley Blackwell, vol. 26(1), pages 280-297, February.
    7. Bicchal, Motilal, 2022. "Central bank credibility and its effect on stabilization," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 73-94.
    8. Syarifuddin, Ferry & Izzulhaq, Syahid, 2020. "The Effectiveness of Futures-based Foreign Exchange Intervention: Comparative Studies of Brazil and India," MPRA Paper 104709, University Library of Munich, Germany.
    9. Direye, Eli & Khemraj, Tarron, 2021. "Central bank securities and FX market intervention in a developing economy," MPRA Paper 111533, University Library of Munich, Germany, revised 09 Aug 2021.
    10. Bambe, Bao-We-Wal & Combes, Jean-Louis & Kaba, Kabinet & Minea, Alexandru, 2024. "Inflation targeting and firm performance in developing countries," Journal of Economic Dynamics and Control, Elsevier, vol. 163(C).

  7. Adler, Gustavo & Lisack, Noëmie & Mano, Rui C., 2019. "Unveiling the effects of foreign exchange intervention: A panel approach," Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
    See citations under working paper version above.
  8. Adler, Gustavo & Magud, Nicolas E. & Werner, Alejandro, 2018. "Terms-of-trade cycles and external adjustment," International Review of Economics & Finance, Elsevier, vol. 54(C), pages 103-122.
    See citations under working paper version above.
  9. Adler, Gustavo & Djigbenou, Marie-Louise & Sosa, Sebastian, 2016. "Global financial shocks and foreign asset repatriation: Do local investors play a stabilizing role?," Journal of International Money and Finance, Elsevier, vol. 60(C), pages 8-28.
    See citations under working paper version above.
  10. Gustavo Adler & Pedro Castro & Camilo Tovar, 2016. "Does Central Bank Capital Matter for Monetary Policy?," Open Economies Review, Springer, vol. 27(1), pages 183-205, February.
    See citations under working paper version above.
  11. Adler, Gustavo & Lizarazo, Sandra, 2015. "Intertwined sovereign and bank solvencies in a simple model of self-fulfilling crisis," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 428-448.

    Cited by:

    1. Lidija Lovreta & Joaquín López Pascual, 2020. "Structural breaks in the interaction between bank and sovereign default risk," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 11(4), pages 531-559, December.

  12. Adler, Gustavo & Magud, Nicolas E., 2015. "Four decades of terms-of-trade booms: A metric of income windfall," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 162-192.

    Cited by:

    1. Adler, Gustavo & Magud, Nicolas E. & Werner, Alejandro, 2018. "Terms-of-trade cycles and external adjustment," International Review of Economics & Finance, Elsevier, vol. 54(C), pages 103-122.
    2. Medina, Juan Pablo & Soto, Claudio, 2016. "Commodity prices and fiscal policy in a commodity exporting economy," Economic Modelling, Elsevier, vol. 59(C), pages 335-351.
    3. Javier Bianchi & Juan Carlos Hatchondo & Leonardo Martinez, 2013. "International reserves and rollover risk," Working Paper 13-01, Federal Reserve Bank of Richmond.
    4. Manuchehr Irandoust, 2017. "Saving behaviour under terms-of-trade uncertainty: evidence from hidden cointegration approach," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 10(2), pages 135-150, May.
    5. André Roncaglia De Carvalho & - André M. Marques, 2018. "Economic Development And Inflation: A Theoretical And Empirical Analysis," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 41, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    6. Federico R. Bennett & Carlos Vegh & Daniel Lederman & Federico Bennett, "undated". "Leaning Against the Wind," World Bank Publications - Reports 26364, The World Bank Group.
    7. Cordella, Tito & Gupta, Poonam, 2015. "What makes a currency procyclical? An empirical investigation," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 240-259.
    8. Luis N. Lanteri, 2017. "Shocks de precios externos y su impacto en el consumo y en la inversión. Alguna evidencia para Argentina," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 1, pages 1-1, December.
    9. Luis N. Lanteri, 2015. "Efectos de la enfermedad holandesa ('Dutch disease'). Alguna evidencia para Argentina," Revista de Economía del Rosario, Universidad del Rosario, vol. 18(2), pages 187-209, December.
    10. Liu, Kai & Poplawski-Ribeiro, Marcos, 2015. "Short- and Long-Run Fiscal Elasticities: International Evidence," MPRA Paper 65950, University Library of Munich, Germany.
    11. Aqib Aslam & Samya Beidas-Strom & Mr. Rudolfs Bems & Oya Celasun & Zsoka Koczan, 2016. "Trading on Their Terms? Commodity Exporters in the Aftermath of the Commodity Boom," IMF Working Papers 2016/027, International Monetary Fund.
    12. Mr. Yan Carriere-Swallow & Mr. Luis Ignacio Jácome & Mr. Nicolas E Magud & Alejandro M. Werner, 2016. "Central Banking in Latin America: The Way Forward," IMF Working Papers 2016/197, International Monetary Fund.
    13. Grigoli, Francesco & Herman, Alexander & Swiston, Andrew, 2019. "A crude shock: Explaining the short-run impact of the 2014–16 oil price decline across exporters," Energy Economics, Elsevier, vol. 78(C), pages 481-493.

  13. Gustavo Adler & Sebastián Sosa, 2014. "Intraregional Spillovers in South America: Is Brazil Systemic After All?," The World Economy, Wiley Blackwell, vol. 37(3), pages 456-480, March.
    See citations under working paper version above.
  14. Gustavo Adler & Camilo E. Tovar, 2013. "Global Financial Shocks And Their Economic Impact On Emerging Market Economies," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 4(02), pages 1-27.

    Cited by:

    1. Gustavo Adler & Marie-Louise Djigbenou & Mr. Sebastian Sosa, 2014. "Global Financial Shocks and Foreign Asset Repatriation: Do Local Investors Play a Stabilizing Role?," IMF Working Papers 2014/060, International Monetary Fund.

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