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The Resource Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock, Bems, Rudolfs

Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock, Bems, Rudolfs

Label
Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock
Title
Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock
Statement of responsibility
Bems, Rudolfs
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
Many argue that improvements in monetary policy frameworks in emerging market economies over the past few decades, have made them more resilient to external shocks. This paper exploits the May 2013 taper tantrum in the United States to study the reaction of 18 large emerging markets to an external shock, conditioning on their degree of inflation expectations' anchoring. We find that while the tapering announcement negatively affected growth prospects regardless of the level of anchoring, countries with weakly anchored inflation expectations experienced larger exchange rate pass-through to consumer prices, hence comparatively higher inflation. We conclude that efforts to improve the extent of anchoring of inflation expectations in emerging markets pay off, as they ease the trade-off that central banks face when external shocks weaken growth prospects and trigger currency depreciations
Member of
Cataloging source
YOU
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Bems, Rudolfs
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Caselli, Francesca G
  • Grigoli, Francesco
  • Gruss, Bertrand
  • IMF e-Library - York University
Series statement
IMF Working Paper,
http://library.link/vocab/subjectName
  • International Monetary Fund
  • International Monetary Fund
  • Inflation (Finance)
  • Inflation (Finance)
  • United States
Label
Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock, Bems, Rudolfs
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
1104938196
Dimensions
unknown
Extent
1 online resource (13 pages)
Form of item
online
Isbn
9781498302777
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781498302777.001
Specific material designation
remote
System control number
  • imfWPIEA2019075
  • (IMF)WPIEA2019075
  • (OCoLC)1104938196
Label
Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock, Bems, Rudolfs
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
1104938196
Dimensions
unknown
Extent
1 online resource (13 pages)
Form of item
online
Isbn
9781498302777
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781498302777.001
Specific material designation
remote
System control number
  • imfWPIEA2019075
  • (IMF)WPIEA2019075
  • (OCoLC)1104938196

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