Fed paper calls for rethink of conditions for setting capital controls
Policymakers should also consider how external shocks affect the borrowing capacity of the country, researchers say
Policymakers in countries prone to capital flow shocks should consider alternatives to stricter capital controls and macro-prudential policies to respond to crises, research published by the Federal Reserve finds.
Managing capital flows in the presence of external risks by Ricardo Reyes-Heroles and Gabriel Tenorio explores the factors affecting international capital flows. “The uncertainty regarding policy actions in industrialised economies as well as other underlying institutional and
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