Capital Inflows and Reserve Accumulation: The Recent Evidence
---- Acknowledgements -----
Presented at the Korea Institute for International Economic Policy conference, "Capital Flows, Macroeconomic Management and Regional Cooperation in Asia," where we benefited from the comments of our discussant, Prakash Loungani, and other participants. An earlier version was presented at the Konstanz Seminar on Monetary Policy and Theory, and we appreciate the comments of our discussant, Patrick Minford, and other participants. April Gifford and Meagan Berry provided excellent research support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.