search query: @indexterm Foreign exchange / total: 493
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| Author: | Ho, W. |
| Title: | Foreign exchange controls and liquidity |
| Journal: | Journal of International Money and Finance
1995 : AUG, VOL. 14:4, p. 515-538 |
| Index terms: | FOREIGN EXCHANGE CONTROL LIQUIDITY |
| Language: | eng |
| Abstract: | This paper analyzes the liquidity effects generated by foreign exchange controls in a two-country, two-good, two-currency cash-in-advance world economy. Taxes on the purchases of foreign currency induce redistribution of liquidity in international financial markets which results in co-movements of macroeconomic aggregates in the two economies, fluctuations in exchange rates and interest rates, and changes in welfare of economic agents of each country. |
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