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Working Paper
Note on key currency intervention systems
Journal Article
Capital flight, external debt, and domestic policies
The international debt crisis of 1982 revealed that unrecorded private capital outflows from developing countries occurred simultaneously with borrowing from international commercial banks. Current interest in capital flight has been generated by the possibility that the resurgence of private capital inflows to these countries may be limited to the return of flight capital. A simple public finance model shows that simultaneous capital outflows and inflows can be explained as the result of private international arbitrage of domestic policies. The paper discusses the welfare consequences of ...
Working Paper
A model of arbitrage and short-term capital flows
Conference Paper
Dollars and deficits: where do we go from here?
Working Paper
Rules for intervention without fixed parities
Conference Paper
The revived Bretton Woods system: alive and well