markets in RMB, the Chinese authorities are essentially trapped into maintaining exchange controls reinforced by financial … repression in domestic interest rates to avoid an avalanche of foreign capital inflows that would threaten inflation and asset …

Modern financial repression in advanced economies does not rely on increasing seigniorage revenue, but mostly rests … repression in the form of non-market placement of the public debt in the captive pension fund. We show that financial repression … and capital income taxation are not perfect substitutes. The optimal degree of financial repression depends on the growth …