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
DO  - 10.3386/w18404
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
582 Wyman Bldg.
3400 N. Charles Street
Baltimore, MD 21218
Tel: 410/516-7604
Fax: 410/516-7600
E-Mail: ojeanne@jhu.edu
M1  - published as Olivier Jeanne. "Capital Account Policies and the Real Exchange Rate," in Francesco Giavazzi and Kenneth D. West, organizers, "NBER International Seminar on Macroeconomics 2012" University of Chicago Press (2013)

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  -