This paper reviews selected post-Global Financial Crisis theoretical and empirical
contributions on capital controls and identifies three theoretical motives for the use of this …

We provide a simple framework to study the prudential use of capital controls and currency
reserves that have been explored in the recent literature. We cover the role of both …

The study of financial stability is a highly expansive and significant area of academic inquiry.
However, traditional literature reviews are often constrained in their scope as they tend to …

We present a model that reproduces two salient facts characterizing the international
monetary system: Fast growing emerging countries i) run current account surpluses, ii) …

Sudden Stops are financial crises defined by a large, sudden current-account reversal. They
occur in both advanced and emerging economies and result in deep recessions, collapsing …

This study was designed to investigate the role of political stability in the nexus between
financial development, renewable energy, total reserves, agriculture value addition, and …

In the past three decades, governments in emerging markets have accumulated large
amounts of international reserves, especially those with fixed exchange rates. This article …

We develop a tractable small-open-economy framework to characterize the constrained
efficient use of the policy rate, foreign exchange (FX) intervention, capital controls, and …

We explore how imperfect regulation enforcement affects the design of optimal
macroprudential policy. We study an open economy workhorse model of macroprudential …

Using a two-country model, this paper shows that the shift from foreign currency to local
currency external borrowing does not eliminate the vulnerability of EMs to foreign financial …