登入
選單
返回
Google圖書搜尋
Terms of Trade Disturbances, Real Exchange Rates and Welfare
Sebastian Edwards
Jonathan David Ostry
其他書名
The Role of Capital Controls and Labor Market Distortions
出版
National Bureau of Economic Research
, 1989
URL
http://books.google.com.hk/books?id=JiSyAAAAIAAJ&hl=&source=gbs_api
註釋
Many arguments that have been advanced in favor of maintaining capital control within the EEC have not paid sufficient attention to the welfare consequences of this type of market intervention. Our paper provides a simple, optimizing framework in which the welfare consequences of capital controls can be assessed. Two main issues are considered. First, how do capital controls affect the adjustment of macroeconomic variables to real disturbances? Second, what is the nature of second best arguments for maintaining capital controls given that certain distortions will remain after the European single market is in place in 1992?
