The Sixteenth Annual Yan Fu Memorial Lecture in Economics
Some Reflections on Capital Flow Managementand Exchange-Rate Policies
Speaker: Charles Engel
Time: 2pm, Oct. 15, 2018 Venue: Zhifuxuan Classroom Language: English
Abstract: In recent years, China has moved – albeit not in a straight path – toward loosening some of its restrictions on capital inflows and outflows. At the same time, there has been an increased interest among academics and policymakers in exploring the use of capital controls as a policy instrument. It has been argued that capital controls can be deployed to protect the country from hot capital movements, as a macroprudential tool, and that capital controls might allow the country to stabilize the exchange rate. This lecture will examine some of the pluses and minuses of using capital controls and pay particular attention to the consequences of using sterilized intervention as a policy tool.
Speaker introduction: Charles Engel is the Donald Hester Professor of Economics at the University of Wisconsin –Madison. He is a Research Associate for the National Bureau of Economic Research; a Research Affiliate at the Research Centre for International Economics, City University of Hong Kong; a member of the Advisory Board, Center for Applied Macroeconomic Analysis (Australia and New Zealand); an International Research Fellow, Kiel Institute, Kiel, Germany; on the Council of Advisers, Hong Kong Institute for Monetary Research; a member of the CESifo Research Network; serves on the BIS Advisory Panel and is a consultant at the Federal Reserve Bank of Chicago.
He was Editor from 2001-2017 of the Journal of International Economics, the leading academic journal in the field of international economics.
He has frequently been a Visiting Scholar at the Federal Reserve Board, the International Monetary Fund, the European Central Bank, the Bank for International Settlements, and central banks in several countries including England, France, the Netherlands, Hong Kong, Singapore, Serbia, Uruguay, and Chile. He is regularly a Visiting Scholar at several of the regional Federal Reserve Banks.
He has published articles in the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, the Journal of International Economics and other publications.
For more information about Prof. Engel, please see: https://www.ssc.wisc.edu/~cengel/