NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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On the Desirability of Capital Controls

Jonathan Heathcote, Fabrizio Perri

NBER Working Paper No. 21898
Issued in January 2016

---- Acknowledgments ----

We thank Markus Brunnermeier, Mick Devereux, Pierre Olivier Gourinchas, Ayhan Kose, and two anonymous referees for very useful comments. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis or the Federal Reserve System. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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