Förster, Marcel; Jorra, Markus; Tillmann, Peter - In: Journal of International Money and Finance 48 (2014) PA, pp. 101-124
The present paper examines the degree of comovement of gross capital inflows, which is a highly sensitive issue for policy makers. We estimate a dynamic hierarchical factor model that is able to decompose inflows in a sample of 47 economies into (i) a global factor common to all types of flows...
