A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation
We develop a theory of capital controls as dynamic terms-of-trade manipulation. We study an infinite-horizon endowment economy with two countries. One country chooses taxes on international capital flows in order to maximize the welfare of its representative agent, while the other country is passive...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
University of Chicago Press, The,
2015-03-11T18:45:23Z.
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| Subjects: | |
| Online Access: | Get fulltext |