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Are Capital Inflows Expansionary or Contractionary? Theory Policy Implications and Some Evidence-Olivier J. Blanchard PDF Download
The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that...
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The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising output,......
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