TY  - BOOK
AU  - Chi, Chun-Che
AU  -  Schmitt-Grohe, Stephanie
AU  -  Uribe, Martin
TI  - Optimal Bank Reserve Remuneration and Capital Control Policy
SN  - 1945-7707
PB  - American Economic Journal: Macroeconomics
KW  -  Capital Controls
KW  -  Central Banks and Their Policies
KW  -  Mortgages
KW  -  Open Economy Macroeconomics
KW  - Household Finance
N2  - A central prediction of open economy models with a pecuniary externality due to a collateral constraint is that the unregulated economy overborrows relative to what occurs under optimal policy. A maintained assumption in this literature is that households
UR  - https://www.aeaweb.org/articles?id=10.1257/mac.20220324
ER  -