Similar Search Results

Credit constraints and growth in a global economy

Jin, Keyu; Guibaud, Stéphane; Coeurdacier, Nicolas - London School of Economics (LSE) - 2013

We show that in an open-economy OLG model, the interaction between growth differentials and household credit constraints, more severe in fast-growing countries, can explain three prominent global trends: a divergence in private saving rates between advanced and emerging economies, large net...

Persistent link: https://www.econbiz.de/10010745077

International business cycles with heterogeneous sectors

Jin, Keyu - London School of Economics (LSE) - 2009

consumption being higher than output, and negative comovement in aggregate investment and employment. This paper shows that …

Persistent link: https://www.econbiz.de/10010746152

Industrial structure and financial capital flows

Jin, Keyu - London School of Economics (LSE) - 2009

Commodity trade and financial asset trade are both integral parts of globalization, yet little has been studied on their interplay. In a framework that integrates these two paradigms of trade, a new force driving international capital flows emerges: capital tends to flow towards countries that...

Persistent link: https://www.econbiz.de/10010746535

Credit constraints and growth in a global economy

Jin, Keyu; Guibaud, Stéphane; Coeurdacier, Nicolas - London School of Economics (LSE) - 2011

We show that in an open-economy OLG model, the interaction between growth diﬀerentials and household credit constraints, more severe in fast-growing countries, can explain three prominent global trends: a divergence in private saving rates between advanced and emerging economies, large net...

Persistent link: https://www.econbiz.de/10011071411

The marginal product of capital

Caselli, Francesco; Feyrer, James - London School of Economics (LSE) - 2006

Whether or not the marginal product of capital (MPK) differs across countries is a question that keeps coming up in discussions of comparative economic development and patterns of capital flows. We use easily accessible macroeconomic data to shed light on this issue, and find that MPKs are...

Persistent link: https://www.econbiz.de/10010928591

Capital markets, ownership and distance

Carlin, Wendy; Charlton, Andrew; Mayer, Colin - London School of Economics (LSE) - 2006

This paper uses a new data-set to examine how internal capital markets and foreign ownership affect investment. Our … data allow us to compare investment behaviour of listed subsidiaries with stand-alone firms while controlling for … investment opportunities of parent and subsidiary firms. We evaluate how the size of ownership and the geographical proximity of …

Persistent link: https://www.econbiz.de/10010884649

Reserve accumulation, growth and financial crises

Benigno, Gianluca; Fornaro, Luca - London School of Economics (LSE) - 2012

We present a model that reproduces two salient facts characterizing the international monetary system: i) Faster growing countries are associated with lower net capital inflows and ii) Countries that grow faster accumulate more international reserves and receive more net private inflows. We...

Persistent link: https://www.econbiz.de/10010744942

Financial globalization and exchange rates

Lane, Philip R.; Milesi-Ferretti, Gian Maria - London School of Economics (LSE) - 2004

The founders of the Bretton Woods System sixty years ago were primarily concerned with orderly exchange rate adjustment in a world economy that was characterized by widespread restrictions on international capital mobility. In contrast, the rapid pace of financial globalization during recent...

Persistent link: https://www.econbiz.de/10010745076

Capital flows and asset prices

Aoki, Kosuke; Benigno, Gianluca; Kiyotaki, Nobuhiro - London School of Economics (LSE) - 2009

After liberalizing international transactions of financial assets, many countries experience large swings in asset prices, capital flows, and aggregate production. This paper studies how the adjustment to capital account liberalization depends upon the degree of development of a domestic...

Persistent link: https://www.econbiz.de/10010745119

Do workers' remittances reduce the probability of current account reversals?

Bugamelli, Matteo; Paterno, Francesco - London School of Economics (LSE) - 2006

The paper combines the literature on financial crises in emerging markets and developing economies with that on international migrations by investigating whether the increasingly large flows of workers’ remittances can help reduce the probability of current account reversals. The rationale for...

Persistent link: https://www.econbiz.de/10010745682