Gustavo Adler

International Monetary Fund (IMF) - Research Department

700 19th Street NW

Washington, DC 20431

United States

  • International Monetary Fund (IMF) - Research Department

SCHOLARLY PAPERS

26

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Scholarly Papers (26)

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1.

Foreign Exchange Intervention: A Shield Against Appreciation Winds?

IMF Working Paper No. 11/165
Number of pages: 30 Posted: 19 Jul 2011
Gustavo Adler and Camilo E. Tovar Mora
International Monetary Fund (IMF) - Research Department and affiliation not provided to SSRN
Downloads 261 (165,159)
Citation 1

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2.

Commodity Price Cycles: The Perils of Mismanaging the Boom

IMF Working Paper No. 11/283
Number of pages: 39 Posted: 12 Dec 2011
Gustavo Adler and Sebastiàn Sosa
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 161 (255,293)

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Asia, Business cycles, Commodities, Commodity prices, Demand, Emerging markets, External shocks, Latin America

3.

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Downloads 128 (305,774)
Citation 25

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Peterson Institute for International Economics Working Paper No. 15-18
Number of pages: 30 Posted: 11 Nov 2015 Last Revised: 18 Feb 2018
Olivier J. Blanchard, Olivier J. Blanchard, Gustavo Adler and Irineu de Carvalho Filho
National Bureau of Economic Research (NBER)Peterson Institute for International Economics, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 51 (529,886)

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foreign exchange intervention, exchange rate, capital flows, gross capital flows

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

IMF Working Paper No. 15/159
Number of pages: 31 Posted: 31 Aug 2015
Olivier J. Blanchard, Olivier J. Blanchard, Gustavo Adler and Irineu de Carvalho Filho
National Bureau of Economic Research (NBER)Peterson Institute for International Economics, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 48 (544,030)

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exchange rate, gross capital flows, exchange, market, General

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

NBER Working Paper No. w21427
Number of pages: 38 Posted: 03 Aug 2015 Last Revised: 20 Jul 2022
Olivier J. Blanchard, Olivier J. Blanchard, Gustavo Adler and Irineu de Carvalho Filho
National Bureau of Economic Research (NBER)Peterson Institute for International Economics, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 29 (654,161)
Citation 12

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4.

Riding Global Financial Waves: The Economic Impact of Global Financial Shocks on Emerging Market Economies

IMF Working Paper No. 12/188
Number of pages: 27 Posted: 01 Nov 2012
Gustavo Adler and Camilo Ernesto Tovar Mora
International Monetary Fund (IMF) - Research Department and affiliation not provided to SSRN
Downloads 115 (330,215)
Citation 1

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Global Financial Shocks, Spillovers, Emerging Markets, Economic Conditions, Developing Countries, External Shocks

5.

Does Central Bank Capital Matter for Monetary Policy?

IMF Working Paper No. NO.12/60
Number of pages: 22 Posted: 25 Mar 2012
Gustavo Adler, Predro Castro and Camilo E. Tovar
International Monetary Fund (IMF) - Research Department, affiliation not provided to SSRN and International Monetary Fund
Downloads 82 (409,986)

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Central Bank Capital, Central Bank Financial Strength, Developed Countries, Emerging Markets

6.

Foreign Exchange Intervention Under Policy Uncertainty

IMF Working Paper No. 16/67
Number of pages: 41 Posted: 26 Apr 2016
Gustavo Adler, Ruy Lama and Juan Medina
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and Adolfo Ibanez University
Downloads 76 (428,276)

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Foreign Exchange Intervention, Monetary Policy, Learning, inflation, central bank, exchange, currency, Open Economy Macroeconomics,

7.

Unveiling the Effects of Foreign Exchange Intervention: A Panel Approach

IMF Working Paper No. 15/130
Number of pages: 43 Posted: 21 Jul 2015
Gustavo Adler, Noemie Lisack and Rui C. Mano
International Monetary Fund (IMF) - Research Department, European University Institute and International Monetary Fund
Downloads 76 (428,276)
Citation 7

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Foreign exchange intervention, Exchange rates, Nominal effective exchange rate, Exchange rate depreciation, Panel analysis, reserves, central bank, exchange rate movements, instruments, currency, portfolio, central banks, interest, interest rate, domestic currency

8.

External Conditions and Debt Sustainability in Latin America

IMF Working Paper No. 13/27
Number of pages: 54 Posted: 22 Feb 2013
Gustavo Adler and Sebastiàn Sosa
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 63 (472,407)

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Latin America, debt sustainability, external debt, public debt

9.

Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?

IMF Working Paper No. 19/300
Number of pages: 28 Posted: 23 Jan 2020
Gustavo Adler, Sergii Meleshchuk and Carolina Osorio-Buitron
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 61 (480,020)
Citation 2

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Exchange rate shocks, Exchange rate policy, Exchange rate pass-through, Flexible exchange rates, Exchange rate adjustments, inflation targeting, foreign exchange intervention, exchange rate, WP, intermediate input, value chain, exchange rate movement, trade flow, FWD

10.

Modernizing Bank Regulation in Support of Financial Deepening: The Case of Uruguay

IMF Working Paper No. 09/199
Number of pages: 29 Posted: 13 Oct 2009
Gustavo Adler, Mario Mansilla and Torsten Wezel
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and Deutsche Bundesbank
Downloads 59 (487,717)

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Bank reforms, Bank regulations, Bank supervision, Banking sector, Basel Core Principles, Business cycles, Credit expansion, Credit risk, Financial crisis, Financial soundness indicators, Liquidity management, Loans, Risk management, Uruguay

11.

Four Decades of Terms-of-Trade Booms: Saving-Investment Patterns and a New Metric of Income Windfall

IMF Working Paper No. 13/103
Number of pages: 33 Posted: 08 Jun 2013
Gustavo Adler and Nicolás E. Magud
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 58 (491,636)

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Terms of trade, Latin America, External shocks, Savings, Investment, Income, Business cycles, Cross country analysis, windfall, real income, aggregate saving, saving rate, trade shocks, trade shock, terms-of-trade shocks, domestic investment, oil exporters, exporting countries, trade openness, international financial statistics, international financial, domestic savings, foreign asset, foreign assets, foreign asset accumulation, exchange rate regime, import prices, global shocks, domestic consumption, gross capital formation, net foreign asset, trade changes, commodity prices, return on capital, open economy, external position, net foreign assets, foreign asset position, net foreign asset po

12.

The External Balance Assessment Methodology: 2018 Update

IMF Working Paper No. 19/65
Number of pages: 69 Posted: 15 Apr 2019
Luis Cubeddu, Signe Krogstrup, Gustavo Adler, Pau Rabanal, Mai Dao, Swarnali Ahmed Hannan, Luciana Juvenal, Carolina Osorio-Buitron, Cyril Rebillard, Daniel Garcia-Macia, Callum Jones, Jair Rodriguez, Kyun Suk Chang, Deepali Gautam and Zijiao Wang
International Monetary Fund (IMF), National Bank of Denmark - Economics Department, International Monetary Fund (IMF) - Research Department, International Monetary Fund, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) - European Department, Board of Governors of the Federal Reserve System, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 52 (516,278)
Citation 1

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External sector, Current account balances, Terms of trade, Current account surpluses, Current account deficits, current account, exchange rates, external sustainability, global imbalances., Eba, capital control, output gap, institutional quality, OAD

13.

Original Sin and Procylical Fiscal Policy: Two Sides of the Same Coin?

IMF Working Paper No. 08/209
Number of pages: 29 Posted: 12 Sep 2008
Gustavo Adler
International Monetary Fund (IMF) - Research Department
Downloads 52 (516,278)

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Sovereign debt, Fiscal policy, Inflation, Price stabilization, Public debt, Political economy, Emerging markets, Developing countries, Economic models, Working Paper

14.

The Cost of Foreign Exchange Intervention: Concepts and Measurement

IMF Working Paper No. 16/89
Number of pages: 38 Posted: 09 Dec 2016
Gustavo Adler and Rui C. Mano
International Monetary Fund (IMF) - Research Department and International Monetary Fund
Downloads 48 (534,155)
Citation 5

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Foreign exchange intervention, Risk premium, Fiscal analysis, Econometric models, central bank balance sheet, international reserves, foreign exchange intervention, currency risk premium

15.

Terms-of-Trade Cycles and External Adjustment

IMF Working Paper No. 17/29
Number of pages: 30 Posted: 23 Mar 2017
Gustavo Adler, Nicolás E. Magud and Alejandro M. Werner
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 46 (543,409)

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Business cycles, Developed countries, Emerging markets, Terms of trade, Time series, Econometric models, Panel analysis, terms of trade; external adjustment; current account, external adjustment, current account, Open Economy Macroeconomics, International Business Cycles

16.

Are Foreign Banks a 'Safe Haven'? Evidence from Past Banking Crises

IMF Working Paper No. 15/43
Number of pages: 28 Posted: 26 Mar 2015
Gustavo Adler and Eugenio Cerutti
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 41 (568,159)

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Foreign banks, Argentina, Uruguay, Banking crisis, Bank deposits, Banking systems, Emerging markets, Cross country analysis, bank run, foreign banks., interest, subsidiaries, risk, subsidiary, banking crises

17.

Patterns of Foreign Exchange Intervention Under Inflation Targeting

IMF Working Paper No. 20/69
Number of pages: 30 Posted: 30 Jun 2020
Gustavo Adler, Kyun Suk Chang and Zijiao Wang
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 40 (573,287)

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Nominal effective exchange rate, Exchange rate policy, Central banks, Foreign exchange intervention, Exchange rate management, inflation targeting, exchange rate, WP, inflation expectation, inflation target, domestic currency, full sample

18.

Foreign Exchange Intervention: A Dataset of Public Data and Proxies

IMF Working Paper No. 2021/047
Number of pages: 56 Posted: 26 May 2021
Gustavo Adler, Kyun Suk Chang, Rui C. Mano and Yuting Shao
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund and International Monetary Fund (IMF)
Downloads 39 (578,431)

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19.

Intertwined Sovereign and Bank Solvencies in a Model of Self-Fulfilling Crisis

IMF Working Paper No. 12/178
Number of pages: 30 Posted: 01 Nov 2012
Gustavo Adler
International Monetary Fund (IMF) - Research Department
Downloads 38 (583,666)

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Banking Crisis, Sovereign Debt Crisis, Twin Crisis, Banks, Public Debt

20.

Global Financial Shocks and Foreign Asset Repatriation: Do Local Investors Play a Stabilizing Role?

IMF Working Paper No. 14/60
Number of pages: 32 Posted: 15 May 2014
Gustavo Adler, Marie-Louise Djigbenou and Sebastiàn Sosa
International Monetary Fund (IMF) - Research Department, Banque de France and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 31 (624,288)
Citation 5

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International capital markets, External shocks, Emerging markets, Foreign investment, Capital flows, Economic integration, Economic models, gross capital flows, foreign assets, global financial shocks, capital inflows, net capital, net capital flows, capital outflows, commodity prices, financial integration, global financial markets, net capital outflows, capital movements, capital mobility, international capital flows, international financial, international financial markets, short-term capital, foreign asset holdings, government bonds, official flows, capital account restrictions, capital accounts, capital flow reversals

21.

Unconventional Policies and Exchange Rate Dynamics

IMF Working Paper No. 17/237
Number of pages: 39 Posted: 01 Dec 2017
Gustavo Adler, Ruy Lama and Juan Medina
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and Adolfo Ibanez University
Downloads 30 (630,591)

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Foreign exchange intervention, Quantitative Easing, International Policy Coordination, International Policy, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics, International Policy Coordination and Transmission, International Business Cycles

22.

The Measurement of External Accounts

IMF Working Paper No. 19/132
Number of pages: 31 Posted: 07 Aug 2019
Gustavo Adler, Signe Krogstrup and Daniel Garcia-Macia
International Monetary Fund (IMF) - Research Department, National Bank of Denmark - Economics Department and International Monetary Fund (IMF) - European Department
Downloads 28 (643,672)

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Foreign investment income, Balance of payments statistics, Financial statistics, Economic integration, Foreign investment, International investment position, Current Account, Measurement, External Imbalances, Global Imbalances., retained earnings, NIIP, statistical definition, investment position, debt position

23.

The Stabilizing Role of Net Foreign Asset Returns

IMF Working Paper No. 18/79
Number of pages: 34 Posted: 22 May 2018
Gustavo Adler and Daniel Garcia-Macia
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - European Department
Downloads 27 (650,467)

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net foreign assets, international investment position, valuation changes, return differential.

24.

Policy Mix and the US Trade Balance

IMF Working Paper No. 17/204
Number of pages: 26 Posted: 16 Oct 2017
Gustavo Adler and Carolina Osorio-Buitron
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 14 (753,449)

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Spillovers, United States, Western Hemisphere, Fiscal policy, monetary policy, trade balance, Monetary Policy (Targets, Instruments, and Effects), United monetary policy

25.

Tipping the Scale? The Workings of Monetary Policy Through Trade

IMF Working Paper No. 17/142
Number of pages: 23 Posted: 09 Aug 2017
Gustavo Adler and Carolina Osorio-Buitron
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 13 (762,637)

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Financial crises, Monetary policy, Current account, trade balance, spillover, spillovers

26.

Intraregional Spillovers in South America: Is Brazil Systemic after All?

The World Economy, Vol. 37, Issue 3, pp. 456-480, 2014
Number of pages: 25 Posted: 11 Mar 2014
Gustavo Adler and Sebastiàn Sosa
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 1 (892,835)
Citation 1

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