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Why is Growth Better in the United States than in Other Industrial Countries
Feldstein, Martin S. - 2017
Although the official statistics imply that the rate of growth of real GDP in the United States has declined in recent years, it has still been substantially higher than the real growth rates in Europe and the other industrial countries, leading to higher real per capita incomes. This paper...
Persistent link: https://www.econbiz.de/10012960796
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Covid-19 and Emerging Markets : An Epidemiological Model with International Production Networks and Capital Flows
Çakmaklı, Cem - 2020
We quantify the macroeconomic effects of COVID-19 for emerging markets using a SIR-multisector-small open economy model and calibrating it to Turkey. Domestic infection rates feed into both sectoral supply and sectoral demand shocks. Sectoral demand shocks also incorporate lower external demand...
Persistent link: https://www.econbiz.de/10012833730
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Financial Globalization, Financial Crises and Contagion
Mendoza, Enrique G. - 2010
Two observations suggest that financial globalization played an important role in the recent financial crisis. First …
Persistent link: https://www.econbiz.de/10013150545
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Causes of the Great Recession of 2007-9 : The Financial Crisis is the Symptom Not the Disease!
Jagannathan, Ravi - 2010
Globalization has made it possible for labor in developing countries to augment labor in the developed world, without … world's effective labor supply, triggered by geo-political events and technological innovations, coupled with the inability …
Persistent link: https://www.econbiz.de/10013150645
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What Determines Immigration's Impact? Comparing Two Global Centuries
Hatton, Timothy J. - 2006
Can history shed light on the modern debate about immigration%u2019s labor market impact in high wage economies? This paper examines the relationship between migration and capital flows in the age of mass migration before 1914, the so-called first global century. It then assesses the effects of...
Persistent link: https://www.econbiz.de/10012779612
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Capital Flows in a Globalized World : The Role of Policies and Institutions
Alfaro, Laura - 2005
We describe the patterns of international capital flows in the period 1970 - 2000. We then examine the determinants of capital flows and capital flows volatility during this period. We find that institutional quality is an important determinant of capital flows. Historical determinants of...
Persistent link: https://www.econbiz.de/10012784196
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The Limits of Financial Globalization
Stulz, René M. - 2005
impact of financial globalization has been remarkably limited. I argue that country attributes are still critical to … ability of a country to take advantage of financial globalization. The twin agency problems help explain why the impact of … financial globalization has been limited and why financial globalization can lead to capital flight and financial crises. The …
Persistent link: https://www.econbiz.de/10012784989
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Global Imbalances and Financial Fragility
Caballero, Ricardo J. - 2010
behind this crisis is the large demand for riskless assets from the rest of the world. In this paper we present a model to …
Persistent link: https://www.econbiz.de/10012757927
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An Exploration of the International Comparison Program's New Global Economic Landscape
Ravallion, Martin - 2014
dramatic revisions to price levels and real incomes across the world. The paper tries to understand these changes. Domestic …
Persistent link: https://www.econbiz.de/10013050153
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Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets
Kaminsky, Graciela - 2021
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10013224423