| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24400 |
| 来源ID | Working Paper 24400 |
| Reach for Yield and Fickle Capital Flows | |
| Ricardo J. Caballero; Alp Simsek | |
| 发表日期 | 2018-03-12 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | In Caballero and Simsek (2018), we develop a model of fickle capital flows and show that, when countries are similar, international flows create global liquidity and mitigate crises despite their fickleness. In this paper, we focus on the asymmetric situation of Emerging Markets (EM) exchanging flows with Developed Markets (DM) that feature lower returns but less frequent crises. Relatively high DM returns help to mitigate EM crises, by reducing fickle inflows, and by providing greater liquidity. The situation dramatically changes as the DM returns fall, as this increases the fickle inflows driven by reach for yield and exacerbates EM crises. |
| 主题 | International Economics ; International Finance ; International Macroeconomics ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w24400 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582074 |
| 推荐引用方式 GB/T 7714 | Ricardo J. Caballero,Alp Simsek. Reach for Yield and Fickle Capital Flows. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24400.pdf（190KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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