The Political Economy of Capital Controls
Alberto Alesina, Vittorio Grilli, Gian Maria Milesi-Ferrett
NBER Working Paper No. 4353
This paper calculates international income transfers which implement a Pareto optimal trade equilibrium in a world where many countries trade many goods.
Published: Published as "The Political Economy of Fiscal Adjustments", BP, Vol. 28,no. 1 (1998): 197-248.