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Keywords:Capital movements 

Conference Paper
Capital mobility and monetary policy: Australia, Japan, and New Zealand

Proceedings

Working Paper
Financial integration, entrepreneurial risk and global dynamics

How does financial integration impact capital accumulation, current-account dynamics, and cross-country inequality? This paper investigates this question within a two-country, general-equilibrium, incomplete-markets model that focuses on the importance of idiosyncratic entrepreneurial risk---a risk that introduces, not only a precautionary motive for saving, but also a wedge between the interest rate and the marginal product of capital. Our contribution is then to show that this friction provides a simple explanation for the emergence of global imbalances, a simple resolution to the empirical ...
Finance and Economics Discussion Series , Paper 2010-54

Report
Capital flight from debtor nations when labor is mobile

Research Paper , Paper 9126

Report
Capital account liberalization as a signal

This paper presents a model in which a government's current capital controls policy signals future policies. Controls on capital outflows evolve in response to news on technology, contingent on government attitudes toward taxation of capital. When there is uncertainty over government types, a policy of liberal capital outflows sends a positive signal that may trigger a capital inflow. This prediction is consistent with the experience of several countries that have recently liberalized their capital accounts.
Staff Reports , Paper 11

Working Paper
Capital controls during financial crises: the case of Malaysia and Thailand

This study examines the impact capital controls had in Malaysia (1998-1999) and Thailand (1997). We aim to assess the extent to which the capital controls were effective in delivering the outcomes that motivated their imposition. We conclude that in Thailand the controls did not deliver much of what was intended--although, one does not observe the counterfactual. By contrast, in the case of Malaysia the controls did align closely with the priors of what controls are intended to achieve: greater interest rate and exchange rate stability and more policy autonomy.
International Finance Discussion Papers , Paper 662

Journal Article
International capital movements: how shocking are they?

International linkages of national capital markets have strengthened in recent years, as many nations have relaxed restrictions over their financial markets and as technical advances have speeded communications. While some controls over capital movements remain, the degree of integration is impressive--and has been for years, well before it became fashionable to speak of "globalization." This article examines the volatility of capital movements relative to national outputs for 11 industrial countries.> The author finds that the volatility of capital flows appears to be no greater now than ...
New England Economic Review , Issue Mar , Pages 41-60

Conference Paper
International capital inflows, domestic financial intermediation and financial crises under imperfect information

Proceedings , Issue Sep

Journal Article
Will capital reflows induce domestic interest rate changes?

Review , Volume 54 , Issue Jul , Pages 2-5

Working Paper
The geography of capital flows: what we can learn from benchmark surveys of foreign equity holdings

To provide insight into the accuracy of U.S. data on international equity transactions, we compare estimates of U.S. holdings of equities in over 40 countries with actual holdings given by comprehensive U.S. benchmark surveys. If the rate of return used to revalue U.S. holdings in a given country is accurate, accurate holdings estimates imply accurate transactions data. For some countries, such as Canada and much of Latin America, the holdings estimates are quite accurate. For the majority of countries, however, there is a great disparity between our estimates and actual amounts, likely ...
International Finance Discussion Papers , Paper 688

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