Title

Monetary and Financial Policies in Emerging Markets

Author(s)

Kosuke Aoki Kosuke Aoki (Tokyo University)

Gianluca Benigno Gianluca Benigno (London School of Economics)

Nobuhiro Kiyotaki Nobuhiro Kiyotaki (Princeton University)

Abstract

In the past few decades, we have observed a significant process of international financial integration characterized by the rising importance of international financial flows and larger gross external assets and liabilities. To what extent does this international financial integration pose challenges for the conduct of monetary and financial policies in open economies, particularly for emerging market economies? How should government conduct policy during global financial booms and recessions?

Creation Date

2016-04

Section URL ID

Paper Number

2016-4

URL

http://www.princeton.edu/~kiyotaki/papers/ABKBankModel4-2016.pdf

File Function

Jel

E52, F36

Keyword(s)

Monetary Policy, Financial Policy, International Financial Integreation

Suppress

false

Series

13