Terms of Trade Disturbances, Real Exchange Rates, and Welfare : The Role of Capital Controls and Labor Market Distortions »
Series: IMF Working Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 14 March 1989
Keywords: capital controls, exchange rate, real exchange rate, international borrowing, capital control
Many arguments that have been advanced in favor of maintaining capital controls within the EC have not paid sufficient attention to the welfare consequences of this type of market intervention. Our paper provides a...