Y. Kalantzis.; P. Towbin.; S. Zignago. - In: Quarterly selection of articles - Bulletin de la Banque … (2014) 33, pp. 5-23
During the financial crisis, the global economy experienced a collapse in cross-border capital flows and a rapid adjustment of global imbalances. One of the striking features of this adjustment is its asymmetric nature:domestic demand declined in countries with a current account deficit,but only...