Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach
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This paper analyzes prudential controls on capital flows to emerging markets from the perspective of a Pigouvian tax that addresses externalities associated with the deleveraging cycle. It presents a model in which restricting capital inflows during boom times reduces the potential outflows during
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美国国家经济研究局创建时间：
2010-04-01
