This paper estimates the effectiveness of capital controls in response to inflow surges in Brazil, Colombia, Korea, and …

of fiscal policy on the other. Applications to Argentina, Brazil, Mexico, South Africa, and Turkey are used to illustrate …

, but find that the effect is small after controlling for the risks of dilution and default. Brazil provides a natural case … explain the high interest rate levels in the aftermath of Brazil''s 1994 inflation stabilization. However, since the adoption … in 1999 of inflation targeting and floating exchange rates, Brazil''s real interest rates are gradually converging to the …

for Brazil, Mexico, and Turkey reveal such responses, both contemporaneously and over time. Capital account shocks are …

the inputs that are required to calculate such spreads. This note provides some evidence from Argentina and Brazil that …