Arregui, Nicolas; Elekdaǧ, Selim Ali; Gelos, Gaston; … - 2018
This paper examines the evolving importance of common global components underlying domestic financial conditions. It … economies. It finds that a common component, 'global financial conditions,' accounts for about 20 percent to 40 percent of the … have increased markedly over the past two decades. Global financial conditions loom large, but evidence suggests that, on …
