Global Imbalances and Taxing Capital Flows

C. A. Goodhart, Udara Peiris and Dimitrios Tsomocos
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C. A. Goodhart: London School of Economics and FMG

International Journal of Central Banking, 2013, vol. 9, issue 2, 13-44

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.

JEL-codes: F34 G15 G18 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (5)

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Related works:
Chapter: Global Imbalances and Taxing Capital Flows (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:ijc:ijcjou:y:2013:q:2:a:1

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