So far as lumpy and volatile flows are a spillover from policy choices of advanced economies, managing capital flows should not be treated as an exclusive problem of emerging market economies and the burden of adjustment should be shared. How this burden will be shared raises both intellectual and practical challenges. 7.
American Economic Journal: Macroeconomics, 12 (2), pp. 1-43. 12. Related terms refer to second-generation or asymmetric automatic stabilisers. See Bouabdallah et al.