This paper presents an empirical analysis of the medium and long-term determinants of the real (effective) exchange rate (RER) of the Bulgarian lev using elements from the natural real exchange rate (NATREX) and the behavioral equilibrium exchange rate (BEER) approaches. The results indicate...

This paper examines the Chilean experience with capital controls and reviews studies on controls on capital inflows. Controls on Chile`s inflows had only a temporary impact in reducing specific inflows because they were affected by avoidance. There is some evidence that controls increased...