Showing 1 - 10 of 376
wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and …
Persistent link: https://www.econbiz.de/10014404021
Persistent link: https://www.econbiz.de/10012322290
Persistent link: https://www.econbiz.de/10012033726
Persistent link: https://www.econbiz.de/10014472337
Monetary and fiscal policies around the world are in better shape today than two decades ago. This paper studies … whether financial globalization has helped induce governments to pursue better macroeconomic policies (the ""discipline effect … robust causal evidence. There is some evidence that financial globalization may have induced countries to pursue low …
Persistent link: https://www.econbiz.de/10014400935
liabilities held by countries, especially in the developing world. This paper constructs estimates of foreign assets and …
Persistent link: https://www.econbiz.de/10014400751
Recent years have witnessed a change in the composition of capital flows to developing countries, and FDI and equity flows have been playing an increasing role. In this paper we discuss the challenges for international macroeconomics that these developments pose and characterize stylized facts...
Persistent link: https://www.econbiz.de/10014403502
The paper examines empirically the question of whether more unequal societies spend more on income redistribution than their more egalitarian counterparts. Theoretical arguments on this issue are inconclusive. The political economy literature suggests that redistributive spending is higher in...
Persistent link: https://www.econbiz.de/10014400085
There is now a substantial theoretical literature arguing that inflation impedes financial deepening. Furthermore, it has been hypothesized that the relationship is a nonlinear one, in that there is a threshold level of inflation below which inflation has a positive effect on financial depth,...
Persistent link: https://www.econbiz.de/10014403632
Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the...
Persistent link: https://www.econbiz.de/10014397575