Goodhart, Charles, Peiris, M. U. and Tsomocos, Dimitrios P. (2013) Global imbalances and taxing capital flows. International Journal of Central Banking, 9 (2). pp. 13-44. ISSN 1815-4654
Full text not available from this repository.Abstract
We study a monetary economy with two large open economies displaying net real and financial flows. If default on cross-border loans is possible, taxing financial flows can reduce its negative consequences. In doing so it can improve welfare unilaterally, in some cases in a Pareto sense, via altering the terms of trade and reducing the costs of such default.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.ijcb.org/ |
| Additional Information: | © 2013 The Author(s) |
| Divisions: | Financial Markets Group |
| Subjects: | H Social Sciences > HG Finance |
| JEL classification: | F - International Economics > F3 - International Finance > F34 - International Lending and Debt Problems G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation |
| Date Deposited: | 19 Jun 2013 15:33 |
| Last Modified: | 17 Feb 2024 00:09 |
| URI: | http://eprints.lse.ac.uk/id/eprint/50833 |
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