A Unifying Framework for Analysing Offsetting Capital Flows and Sterilisation

Sophocles N. Brissimis (), Heather D. Gibson () and E. Tsakalotos

Athens University of Economics and Business from Athens University of Economics and Business, Department of International and European Economic Studies

Abstract: This paper provides a unifying framework in which identified offset and sterilisation equations can be derived and estimated. The theoretical model suggests that, in the case where the central bank cares about bouth external and internal goals and capital is less than perfectly mobile, there will be some offsetting capital flows and the central bank will sterilise. Several results from the literature are encompassed as special case.

Keywords: CAPITAL MARKET; ECONOMIC MODELS (search for similar items in EconPapers)
JEL-codes: G10 E58 (search for similar items in EconPapers)
Date: Written 1997

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