Academic Journal
Crises and capital controls in small open economies: a stock–flow consistent approach
| العنوان: | Crises and capital controls in small open economies: a stock–flow consistent approach |
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| المؤلفون: | Raza, Hamid, Gudmundsson, Bjorn Runar, Zoega, Gylfi, Byrialsen, Mikael Randrup |
| بيانات النشر: | Edward Elgar Publishing |
| سنة النشر: | 2019 |
| المجموعة: | EconStor (German National Library of Economics, ZBW) |
| مصطلحات موضوعية: | ddc:330, E12, F32, F38, F41, post-Keynesian, stock–flow consistent, monetary policy, capital controls, sudden stops, financial crisis |
| الوصف: | This paper attempts to explain the role of capital inflows in creating economic booms and busts in a small open economy with sovereign currency. We develop a stock–flow consistent (SFC) model for a small open economy while relying on the experience of the Icelandic crisis. We demonstrate the destabilising effects of capital inflows on the economy by allowing for a sudden stop, and also discuss the role of capital controls as a policy response in the event of a crisis due to sudden stops. Finally, we discuss the policy implications of our results in order to tackle the destabilising effects associated with financial flows in a small economy. |
| نوع الوثيقة: | article in journal/newspaper |
| اللغة: | English |
| تدمد: | 2052-7772 |
| Relation: | Journal: European Journal of Economics and Economic Policies: Intervention (EJEEP); Volume: 16; Year: 2019; Issue: 1; Pages: 94-133; http://hdl.handle.net/10419/277438; RePEc:elg:ejeepi:v:16:y:2019:i:1:p94-133 |
| DOI: | 10.4337/ejeep.2019.0042 |
| الاتاحة: | http://hdl.handle.net/10419/277438 https://doi.org/10.4337/ejeep.2019.0042 |
| Rights: | http://www.econstor.eu/dspace/Nutzungsbedingungen ; https://creativecommons.org/licenses/by/4.0/ |
| رقم الانضمام: | edsbas.361B8799 |
| قاعدة البيانات: | BASE |
Full Text Finder | تدمد: | 20527772 |
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| DOI: | 10.4337/ejeep.2019.0042 |