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A. Jakubik

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Open access Sep 2026

The Impact of Trade Payment Restrictions and Capital Controls on External Sector Balances

Models of external balances rely on economic fundamentals, structural indicators, cyclical variables, and policy factors. However, existing models may not fully capture the effects of restrictions on trade payments and capital controls. In this paper, we include two new policy variables in a standard empirical model of...

A. Jakubik, Effie Karfaki, Tobias Krahnke et al. · 0 citations

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