01922cas a2200277 a 4500 AALejournalIMF021409 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513564562 1018-5941 BD-DhAAL BD-DhAAL Poirson, Helene. Managing External Volatility : Policy Frameworks in Non-Reserve Issuing Economies / Helene Poirson, Nathan Porter, Ghada Fayad, Itai Agur. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Since the global financial crisis, non-reserve-issuing economies (NREs) have been highly sensitive to episodes of external pressures. With monetary policy independence constrained by this sensitivity, many NREs have utilized other policy instruments. This paper confirms the vulnerability of NREs to external shocks and finds that in some circumstances managing such shocks with multiple instruments can both lessen the policy response required from any one policy tool to financial and external shocks and increase the effectiveness of policies in stabilizing macro-financial conditions. Effectiveness however does not always imply appropriateness, which rests on an evaluation of potential trade-offs and unintended consequences. Mode of access: Internet Agur, Itai. Fayad, Ghada. Porter, Nathan. IMF Working Papers; Working Paper ; No. 2020/288 Full text available on IMF http://elibrary.imf.org/view/journals/001/2020/288/001.2020.issue-288-en.xml IMF e-Library