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Exchange Rate Regimes, Capital Flows and Crisis Prevention
Edwards, Sebastian - 2001
In this paper I analyze, within the context of the new 'financial architecture,' the relationship between exchange rate regimes, capital flows and currency crises in emerging economies. The paper draws on lessons learned during the 1990s, and deals with some of the most important policy...
Persistent link: https://www.econbiz.de/10012470189
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Excessive Volatility in Capital Flows : A Pigouvian Taxation Approach
Jeanne, Olivier - 2010
welfare …
Persistent link: https://www.econbiz.de/10012462724
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International Credit Flows and Pecuniary Externalities
Brunnermeier, Markus K. - 2014
. Capital controls or domestic macro-prudential measures that limit short-term borrowing can improve welfare …
Persistent link: https://www.econbiz.de/10012457863
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Beware the Side Effects : Capital Controls, Trade, Misallocation and Welfare
Andreasen, Eugenia; Bauducco, Sofía; Dardati, Evangelina; … - National Bureau of Economic Research - 2023
We show that capital controls have large adverse effects on misallocation, exports and welfare using a dynamic Melitz …. Social welfare falls and welfare of exporters falls significantly more. LTV regulation cuts credit by the same amount at …
Persistent link: https://www.econbiz.de/10014226160
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Capital controls and capital flows in emerging economics : policies, practices and consequences
Edwards, Sebastian (ed.) - 2007
Persistent link: https://www.econbiz.de/10013480755
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Monetary Sovereignty, Exchange Rates, and Capital Controls : The Trilemma in the Interwar period
Obstfeld, Maurice - 2004
empirically controversial. We apply theory and empirics to the interwar data and find strong support for the logic of the trilemma …
Persistent link: https://www.econbiz.de/10012468300
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A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation
Costinot, Arnaud - 2011
This paper develops a simple theory of capital controls as dynamic terms-of-trade manipulation. We study an infinite … the welfare of its representative agent, while the other country is passive. We show that capital controls are not guided … international capital flows converge to zero. Although our theory emphasizes interest rate manipulation, the country's net financial …
Persistent link: https://www.econbiz.de/10012460977
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The Impact of Bretton Woods International Capital Controls on the Global Economy and the Value of Geopolitical Stability : A General Equilibrium Analysis
Ohanian, Lee E.; Restrepo-Echavarria, Paulina; Van … - National Bureau of Economic Research - 2023
raised welfare substantially in the ROW, but at the expense of much lower U.S. welfare. Given the U.S.'s goal of keeping … capital within these countries to preserve their stability during this period, we interpret lower U.S. welfare due to Bretton …
Persistent link: https://www.econbiz.de/10014337829
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On the International Financial Architecture : Insuring Emerging Markets
Caballero, Ricardo J. - 2003
In spite of significant institutional and macroeconomic reforms over the last decade or two, capital flows to developing economies remain highly volatile. In 1996, net private capital flows to emerging markets reached US$230 billions; by 1997 these flows had been cut in half; by 1998 halved...
Persistent link: https://www.econbiz.de/10012469130
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Capital Account Liberalization, The Cost of Capital, and Economic Growth
Henry, Peter Blair - 2003
Three things happen when emerging economies open their stock markets to foreign investors. First, the aggregate dividend yield falls by 240 basis points. Second, the growth rate of the capital stock increases by an average of 1.1 percentage points per year. Third, the growth rate of output per...
Persistent link: https://www.econbiz.de/10012469215