| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11080 |
| DP11080 On the Desirability of Capital Controls | |
| Jonathan Heathcote; fabrizio perri | |
| 发表日期 | 2016-01-31 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | In a standard two-country international macro model, we ask whether imposing restrictions on international non contingent borrowing and lending is ever desirable. The answer is yes. If one country imposes capital controls unilaterally, it can generate favorable changes in the dynamics of equilibrium interest rates and the terms of trade, and thereby benefit at the expense of its trading partner. If both countries simultaneously impose capital controls, the welfare effects are ambiguous. We identify calibrations in which symmetric capital controls improve terms of trade insurance against country-specific shocks and thereby increase welfare for both countries. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Capital controls international risk sharing Terms of trade |
| URL | https://cepr.org/publications/dp11080 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539909 |
| 推荐引用方式 GB/T 7714 | Jonathan Heathcote,fabrizio perri. DP11080 On the Desirability of Capital Controls. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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