TY  - JOUR
AU  - Jeanne,Olivier
TI  - Capital Account Policies and the Real Exchange Rate
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 18404
PY  - 2012
Y2  - September 2012
UR  - http://www.nber.org/papers/w18404
L1  - http://www.nber.org/papers/w18404.pdf
N1  - Author contact info:
Olivier Jeanne
Department of Economics
Johns Hopkins University
454 Mergenthaler Hall
3400 N. Charles Street
Baltimore, MD 21218
Tel: 410/516-7604
Fax: 410/516-7600
E-Mail: ojeanne@jhu.edu
M3  - presented at "ISOM", June 15-16, 2012
AB  - 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.
ER  -