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This paper develops a macroeconomic general-equilibrium model fully parameterized for the Chilean economy. The model's basic relations can be rigorously derived from intertemporal optimization by rational forward-looking agents. However, it also introduces critical real-world features - such as...
Persistent link: https://www.econbiz.de/10005328809
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Persistent link: https://www.econbiz.de/10005328898
New empirical evidence with regards to the effectiveness and efficiency of Chile's capital controls is provided here, based on more and better data on the range of controls and a broad assessment of their costs and benefits. The paper concludes that capital controls have been partially effective...
Persistent link: https://www.econbiz.de/10005699392