Global Imbalances and Taxing Capital Flows

Charles A.E. Goodhart, Udara Peiris and Dimitrios Tsomocos

Chapter 11 in Financial Regulation and Stability, 2019, pp 270-301 from Edward Elgar Publishing

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.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2019
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Journal Article: Global Imbalances and Taxing Capital Flows (2013)
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