Dilemma Not Trilemma? Capital Controls and Exchange Rates with Volatile Capital Flows
Dilemma Not Trilemma? Capital Controls and Exchange Rates with Volatile Capital Flows
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London: Palgrave Macmillan
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Language
English
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London: Palgrave Macmillan
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The paper considers a standard New Keynesian model of a small open economy with nominal rigidities and studies optimal capital controls. Consistent with the Mundellian view, it finds that the exchange rate regime is key. However, in contrast with the Mundellian view, the paper finds that capital controls are desirable even when the exchange rate is...
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Full title
Dilemma Not Trilemma? Capital Controls and Exchange Rates with Volatile Capital Flows
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TN_cdi_proquest_miscellaneous_1761663254
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_miscellaneous_1761663254
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ISSN
2041-4161
E-ISSN
2041-417X
DOI
10.1057/imfer.2014.25
