The literature on the effectiveness of macroprudential policy tools is still in its infancy and
has so far provided only limited guidance for policy decisions. In recent years, however …

Countries are making more active use of macroprudential tools than in the past with the goal
of improving the resilience of their broader financial systems. A growing body of evidence …

Compared with China's pre-eminent status in world trade, its role in global finance is poorly
understood. This paper studies the size, terms and destination of Chinese official …

MILTON Friedman in 1982 hailed Chile as an" economic miracle." Nearly a decade earlier,
Chile had turned to policies that have since been widely emulated across the globe. The …

Using a recent IMF survey and expanding on previous studies, we document the use of
macroprudential policies for 119 countries over the 2000–2013 period, covering many …

In recent years, policymakers have generally relied on macroprudential policies to address
financial stability concerns. However, our understanding of these policies and their efficacy …

This paper analyzes the role of real exchange rate (RER) policies in promoting economic
development. Markets provide a suboptimal amount of investment in sectors characterized …

This paper provides a comparative assessment of the effectiveness of macroprudential
policies in 12 Asia-Pacific economies over 2004–2013, using databases of domestic …

This paper examines the claim that exchange rate regimes are of little salience in the
transmission of global financial conditions to domestic financial and macroeconomic …

This paper examines the case for using two instruments—the policy interest rate and
sterilized foreign exchange market intervention—in emerging market countries seeking to …