The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 … internationally, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off …

, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the …

economy and, especially, emerging market and developing economies, have suffered a decade of weak growth despite unprecedented …

The Covid-19 pandemic is a major test for governments around the world. We study the political consequences of (mis …

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments …

, however, is that there seem to be certain "threshold" levels of financial and institutional development that an economy needs …

behind this crisis is the large demand for riskless assets from the rest of the world. In this paper we present a model to …