volume 15, issue 256, P1 2015
DOI: 10.5089/9781498367196.001
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Swarnali Ahmed

Abstract: After more than six years of ultra-low interest rates, a Fed liftoff (rate hike) is just a matter of time. This paper goes back to history to understand the spillover effector what is termed in the paper as the 'liftoff' effectof the previous five Fed liftoffs on capital flows. Using a dynamic panel framework covering 48 countries (27 advanced economies, 21 emerging markets) over the period 1982-2006, the paper shows that the liftoff effect on capital flows (total private, portfolio) is significantly higher fo…

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