{"title":"全球失衡和对资本流动征税","authors":"C. Goodhart, M. U. Peiris, D. Tsomocos","doi":"10.4337/9781788973656.00016","DOIUrl":null,"url":null,"abstract":"We study a monetary economy with two large open economies displaying net real and financial flows. If default on cross-border loans is possible, taxing financial flows can reduce its negative consequences. In doing so it can improve welfare unilaterally, in some cases in a Pareto sense, via altering the terms of trade and reducing the costs of such default.","PeriodicalId":447164,"journal":{"name":"Financial Regulation and Stability","volume":"67 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":"{\"title\":\"Global Imbalances and Taxing Capital Flows\",\"authors\":\"C. Goodhart, M. U. Peiris, D. Tsomocos\",\"doi\":\"10.4337/9781788973656.00016\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"We study a monetary economy with two large open economies displaying net real and financial flows. If default on cross-border loans is possible, taxing financial flows can reduce its negative consequences. In doing so it can improve welfare unilaterally, in some cases in a Pareto sense, via altering the terms of trade and reducing the costs of such default.\",\"PeriodicalId\":447164,\"journal\":{\"name\":\"Financial Regulation and Stability\",\"volume\":\"67 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2019-03-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"4\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Financial Regulation and Stability\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.4337/9781788973656.00016\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Financial Regulation and Stability","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.4337/9781788973656.00016","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
We study a monetary economy with two large open economies displaying net real and financial flows. If default on cross-border loans is possible, taxing financial flows can reduce its negative consequences. In doing so it can improve welfare unilaterally, in some cases in a Pareto sense, via altering the terms of trade and reducing the costs of such default.
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