literature. In contrast, studies on relative location tend to be weakly linked to theory, but apply relatively sophisticated … appropriateness of such models, and identify areas of potential concern. The rather weak linkage between theory and operational models …

area sovereign debt crises. We find that macro and default-specific world factors are a primary source of default …

This paper surveys key developments in the theory of international migration and international trade, and provides a …

In recent years the world economy has been subject to large and unsyncronized changes in fiscal policies, high and … builds on a two-country model of the world economy which is applied to the analysis of the transmission and effects of …

This paper deals with the international transmission of the effects of budget deficits on world rates of interest and … spending. The model assumes a two-country world within which capital markets are integrated, individuals behave rationally, and … horizon was finite. This formulation generates asimple pattern of aggregate behavior of the two-country world, and it assures …