Hidden Bibliographic Details
| Other authors / contributors: | Frenkel, Michael, 1954-
International Monetary Fund. Monetary and Exchange Affairs Department.
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| ISBN: | 1282039377
9781282039377
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| Notes: | Includes bibliographical references (pages 23-25).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | This paper extends the Dornbusch model of overshooting exchange rates to discuss both exchange rate and output effects of capital controls that involve additional costs for international asset transactions. We show that, on the one hand, such capital controls have the merit of reducing the volatility of exchange rates following a monetary shock. On the other hand, the implementation increases exchange rate volatility in the short run and induces costs for the real sector in the form of lower equilibrium output levels.
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| Other form: | Print version: Effects of capital controls on exchange rate volatility and output. [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Dept., ©2001
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