This paper investigates the effectiveness of macroprudential policies introduced by Turkey in
late 2010. The unprecedented quantitative easing policies of advanced countries after the …

The predominant role of cross border financial flows for macroeconomic and financial
stability has imposed complex policy trade-offs for emerging economies, especially after the …

During the global financial crisis of 2008–2009, both advanced and emerging countries
have implemented significant easing policies on monetary and fiscal fronts. Yet, the …

In this paper, we develop methods for assessing the sensitivity of capital flows to global
financial conditions. We use these methods to assess the impact of macroprudential policies …

In line with recent policy discussions on the use of macroprudential policies (MPPs) to
respond to cross-border risks arising from capital flows, this paper tries to quantify which …

The shock waves of the 2008–2009 global financial crisis and the 2011–2012 Eurozone
debt crisis hit emerging markets from the trade, finance and expectations channels. We …

Post-crisis spillovers and heightened capital flows have triggered a search for alternative
monetary policy frameworks, especially for small open emerging economies. The Turkish …

This paper assesses the effectiveness and associated externalities that arise when macro-
prudential policies (MPPs) are used to manage international capital flows. Using a sample of …

International capital flows can create significant financial instability in emerging economies.
Does this make it optimal to impose capital controls or should policymakers rely on domestic …

We assess the effectiveness of macroprudential policies in 12 Asia-Pacific economies, using
comprehensive databases of capital flow measures (CFMs) and domestic macroprudential …