No Time for Later: Rebuilding Macro Buffers in the Southern Cone amid a Revamped Global Financial Landscape
Global financial shocks under a revamped global financial landscape can produce unexpected, multi-faceted, and disruptive implications for emerging market economies. Using the VIX index as a proxy for global financial stress, we argue that Southern Cone macro conditions can undergo significant pressure under adverse global financial shocks. The region needs to start rebuilding macro buffers now -in addition to simultaneously correcting macro imbalances and enhancing policy frameworks- to cope with the emerging global financial environment. International organizations, including multilateral development banks, can play several key roles in supporting the rebuilding of macro buffers.
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| Language: | English |
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Inter-American Development Bank
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| Subjects: | Economy, Financial Market, Fiscal Policy, Investment, Macroeconomic Policy, Country Risk, Emerging Market, Standard Deviation, Macroeconomy, Finance, E44 - Financial Markets and the Macroeconomy, E52 - Monetary Policy, E58 - Central Banks and Their Policies, E62 - Fiscal Policy, F42 - International Policy Coordination and Transmission, financial markets;macroeconomics;Monetary policy;Fiscal Policy., |
| Online Access: | http://dx.doi.org/10.18235/0004571 https://publications.iadb.org/en/no-time-later-rebuilding-macro-buffers-southern-cone-amid-revamped-global-financial-landscape |
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