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inevitable, by contemporary economic theory, yet its core tenets remain unchanged today. In response, the authors show how …
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We investigate whether frictions in US financial markets amplify the international propagation of US financial shocks. The dynamics of the US economy is modeled jointly with global macroeconomic and financial variables using a threshold vector autoregression that allows us to capture...
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experience in these areas to propose a simple, powerful, and general theory of how, why, and when stock markets crash. Most …
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experience in these areas to propose a simple, powerful, and general theory of how, why, and when stock markets crash. Most …
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