소장기록
제목WP 96.137 Capital Inflows and the Real Exchange Rate Analytical Framework and Econometric Evidence
설명This paper examines the links between capital inflows and the real exchange rate under pegged exchange rates. The analytical fiamework is described, and a near-VAR model linking capital inflows, interest rate differentials, government spending, money base velocity, and the temporary component of the real exchange rate (TCRER) is estimated for Korea, Mexico, the Philippines, and Thailand. TCRER movements are associated only weakly with shocks to capital flows. Negative shocks to U.S. interest rates lead to capital inflows in Asia and a TCRER appreciation in the Philippines and Thailand. Positive shocks to government spending have a small but statistically significant effect on the TCRER for Korea.
생산자IMF
날짜1996-11-00
기록유형문서류
기록형태회의록/자료
주제IMF협상
식별번호KC-R-01074
제목WP 96.137 Capital Inflows and the Real Exchange Rate Analytical Framework and Econometric Evidence
설명This paper examines the links between capital inflows and the real exchange rate under pegged exchange rates. The analytical fiamework is described, and a near-VAR model linking capital inflows, interest rate differentials, government spending, money base velocity, and the temporary component of the real exchange rate (TCRER) is estimated for Korea, Mexico, the Philippines, and Thailand. TCRER movements are associated only weakly with shocks to capital flows. Negative shocks to U.S. interest rates lead to capital inflows in Asia and a TCRER appreciation in the Philippines and Thailand. Positive shocks to government spending have a small but statistically significant effect on the TCRER for Korea.
생산자IMF
날짜1996-11-00
크기 및 분량50쪽
언어영어
출처IMF
기록유형문서류
기록형태회의록/자료
대주제IMF협상
소주제협상이전
자원유형기록
파일 9c86c1568763388f7d0f61a7f07134e4.pdf
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