find that significant welfare benefits may accrue from capital controls. …

reversals can be welfare-improving and that there exists an optimal degree of spending reversal if the debt elasticity of the …

that a spending reversal rule can be welfare-improving and that there exists an optimal degree of spending reversal. An … country-specific interest rate premium), the welfare benefit of the reversal rule will be increasingly important. …

This paper computes welfare levels under different degree of capital controls and compares them with the welfare level … mobility is not always optimal and that capital controls may enhance an economy’s welfare level. There exists an optimal degree … of capital-account restriction that achieves a higher level of welfare than that under perfect capital mobility, if the …

using Bayesian methods and examine how capital controls affect the economy's welfare. The results of our our analysis show … that there exits an optimal degree of capital controls that achieves a higher level of welfare than that of under perfect … capital mobility as a second best policy, and the welfare effect in the case of Korea is not negligible. …

is large, adding an external debt level to Taylor rules improves welfare. The welfare curve, however, exhibits a hump … shape since excessive reactions to changes in external debt reduce welfare. …

This paper computes welfare levels under different degree of capital controls and compares them with the welfare level … mobility is not always optimal and that capital controls may enhance an economy's welfare level. There exists an optimal degree … of capital-account restriction that achieves a higher level of welfare than that under perfect capital mobility, if the …