NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Capital Account Policies and the Real Exchange Rate

Olivier Jeanne

Chapter in NBER book NBER International Seminar on Macroeconomics 2012 (2013), Francesco Giavazzi and Kenneth D. West, organizers (p. 7 - 42)
Conference held June 15-16, 2012
Published in August 2013 by University of Chicago Press
© 2013 by the National Bureau of Economic Research
in NBER Book Series NBER International Seminar on Macroeconomics

This paper presents a simple model of how a small open economy can undervalue its real exchange rate using its capital account policies. The paper presents several properties of such policies, and proposes a rule of thumb to assess their welfare cost. The model is applied to an analysis of Chinese capital account policies.

download in pdf format
   (821 K)

email paper

This paper is available as PDF (821 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.1086/669583

This chapter first appeared as NBER working paper w18404, Capital Account Policies and the Real Exchange Rate, Olivier Jeanne
Commentary on this chapter:
  Comment, Javier Bianchi
  Comment, Lars E. O. Svensson
Users who downloaded this chapter also downloaded these:
Bianchi Comment on "Capital Account Policies and the Real Exchange Rate"
Svensson Comment on "Capital Account Policies and the Real Exchange Rate"
Fogli, Hill, and Perri The Geography of the Great Recession
Sala, Soderstrom, and Trigari Structural and Cyclical Forces in the Labor Market during the Great Recession: Cross-Country Evidence
Jeanne w18404 Capital Account Policies and the Real Exchange Rate
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us