(2014): “Emerging Market Volatility: Lessons from the taper tantrum”, IMF Staff Discussion Note No. 14/09, September. 4  See Dahlhaus, T. and G. Vasishtha (2014): “The Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market Economies”, Bank of Canada Working Paper 2014–53, December.
5  See Musalem, Alberto G. (2015): “US macroeconomic and regulatory developments and emerging market economies”, speech at the International Financial Conference Annual Meeting, Cartagena, Colombia, 9 March. 2  BIS central bankers’ speeches  goes, higher interest rates in the United States associated to a stronger economy in that country are a net positive for emerging market economies.