Capital Controls and Trade Liberalization in a Monetary Economy /
This paper reexamines Aizenman's (1985) results on the effects of capital controls during unanticipated trade liberalization using an intertemporal optimizing monetary model. Unlike in Aizenman's model, which is based on the currency substitution model, foreign money is an interest-bearing...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
1999.
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| Series: | IMF Working Papers; Working Paper ;
No. 1999/024 |
| Online Access: | Full text available on IMF |