This paper develops a discrete-time epidemiological model for the spread of crises across sectors in the United States for the period 1952-2015. It is the first to use an epidemiological approach with macroeconomic (Flow of Funds) data. An extension of the usual one-period Markov model to a...

We examine the drivers of venture capital financing raised by companies in 162 countries over 22 years from 2000 to 2021, using a novel combination of two venture capital databases Crunchbase and Refinitiv (previously known as VentureXpert). We show that at the firm level companies raise less...

Using a Minskyian framework, we construct financial fragility indicators from a representative sample of companies listed on the Mexican stock market. Our aggregate empirical analysis shows that the financial fragility in the Mexican stock market was not a feature created by the covid-19...

This paper explores how the sudden stop in capital flows to emerging market economies associated with the Covid-19 pandemic unfolded, the substantial policy responses that were needed to alleviate it, and the lessons we might draw from this episode. We identify four areas where further work...