Global Imbalances and Taxing Capital Flows

We study a monetary economy with two large open economies displaying net real and financial flows. If default on cross-border loans is possible, taxing financial flows can reduce its negative consequences. In doing so it can improve welfare unilaterally, in some cases in a Pareto sense, via altering the terms of trade and reducing the costs of such default.

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Year of publication:	2013-06
Authors:	Goodhart, Charles ; Peiris, Udara ; Tsomocos, Dimitrios

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Type of publication:	Article
Language:	English
Notes:	Goodhart, Charles, Peiris, Udara and Tsomocos, Dimitrios (2013) Global Imbalances and Taxing Capital Flows. International Journal of Central Banking, 9 (2). pp. 13-44.
Source:	BASE

Persistent link: https://www.econbiz.de/10011426294