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Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises
Bordo, Michael D. - 2015
Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...
Persistent link: https://www.econbiz.de/10013020714
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Regional Nonadjustment and Fiscal Policy : Lessons for Emu
Obstfeld, Maurice; Peri, Giovanni - 2021
How will countries handle idiosyncratic national macroeconomic shocks under the European single currency? The ways in which European countries now react to internally asymmetric shocks provide a better forecast than do the regional response pattern of the United States. In this paper we compare...
Persistent link: https://www.econbiz.de/10013249688
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An Economic Analysis of Transnational Bankruptcies
Bebchuk, Lucian A. - 2008
This paper analyzes the effects of the legal rules governing transnational bankruptcies. We compare a regime of territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy -- with a regime of universality are adjudicated in a...
Persistent link: https://www.econbiz.de/10012774901
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Economic Insecurity and the Globalization of Production
Scheve, Kenneth; Slaughter, Matthew J. - 2021
A common claim in debates about globalization is that economic integration increases worker insecurity. Although this …
Persistent link: https://www.econbiz.de/10013220072
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Financial Systems, Economic Growth, and Globalization
Rousseau, Peter L.; Sylla, Richard - 2021
that the growth and increasing globalization of these economies might indeed have been 'finance-led.' …
Persistent link: https://www.econbiz.de/10013210573
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Does Government Intervention Affect Banking Globalization?
Kleymenova, Anya - 2016
globalization along three dimensions: depth, breadth and persistence. We examine depth by studying whether a bank's preference for … country or nationalized banks from different countries, consistent with an impact on the breadth of globalization. Third, we … government interventions affect the depth and breadth of banking globalization, but may not persist after public interventions …
Persistent link: https://www.econbiz.de/10012998957
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Inequality Aversion, Populism, and the Backlash Against Globalization
Pastor, Lubos - 2018
globalization. Equality is a luxury good. Countries with more inequality, higher financial development, and trade deficits are more …
Persistent link: https://www.econbiz.de/10012912539
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Secular Labor Reallocation and Business Cycles
Chodorow-Reich, Gabriel - 2016
We study the effect of mean-preserving labor reallocation on business cycle outcomes. We develop an empirical methodology using a local area's exposure to industry reallocation based on the area's initial industry composition and employment trends in the rest of the country over a full...
Persistent link: https://www.econbiz.de/10013001764
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Cities, Skills, and Regional Change
Glaeser, Edward L. - 2011
One approach to urban areas emphasizes the existence of certain immutable relationships, such as Zipf's or Gibrat's Law. An alternative view is that urban change reflects individual responses to changing tastes or technologies. This paper examines almost 200 years of regional change in the U.S....
Persistent link: https://www.econbiz.de/10013127422
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Spatial Development
Desmet, Klaus; Rossi-Hansberg, Esteban - 2021
We present a theory of spatial development. Manufacturing and services firms located in a continuous geographic area choose each period how much to innovate. Firms trade subject to transport costs and technology diffuses spatially across locations. The result is a spatial endogenous growth...
Persistent link: https://www.econbiz.de/10013311942