The globalization of capital and product markets has many implications for economic welfare. Countries can specialize …, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …

The globalization of capital and product markets has many implications for economic welfare. Countries can specialize …, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …