Do capital flows matter for monetary policy setting in inflation targeting economies?
The aim of this study is to determine if capital flows can account for the international effects on domestic monetary policy, using an augmented Taylor rule model. In addition to the standard determinants of nominal interest rates, we include capital flow measures to show how central banks consider...
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| Veröffentlicht in: | Journal of risk and financial management 2020-07, Vol.13 (7), p.1-16 |
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| container_title | Journal of risk and financial management |
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| creator | Arimurti, Trinil Morley, Bruce |
| description | The aim of this study is to determine if capital flows can account for the international effects on domestic monetary policy, using an augmented Taylor rule model. In addition to the standard determinants of nominal interest rates, we include capital flow measures to show how central banks consider this important factor when deciding on the most appropriate monetary policy. Using a panel of inflation targeting economies and the dynamic panel approach, this study finds that capital inflows and outflows are an important determinant of nominal interest rates. |
| doi_str_mv | 10.3390/jrfm13070139 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 1911-8074 |
| ispartof | Journal of risk and financial management, 2020-07, Vol.13 (7), p.1-16 |
| issn | 1911-8074 1911-8066 1911-8074 |
| language | eng |
| recordid | cdi_proquest_journals_2420015385 |
| source | MDPI - Multidisciplinary Digital Publishing Institute; EZB-FREE-00999 freely available EZB journals |
| subjects | Banking industry capital flow Central banks Economic conditions Economic crisis Emerging markets Foreign exchange rates Inflation interest rate Interest rates International finance Monetary policy Rate setting Reserve requirements Taylor rule |
| title | Do capital flows matter for monetary policy setting in inflation targeting economies? |
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