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Persistent link: https://www.econbiz.de/10013434573
The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the...
Persistent link: https://www.econbiz.de/10001680906
The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the...
Persistent link: https://www.econbiz.de/10011474806
The finding of Feldstein and Horioka (1980) that domestic saving and domestic investment are highly correlated across countries despite the rapid globalization and liberalization of financial markets in recent decades has been regarded as a Puzzle or Paradox. However, in this paper, we show that...
Persistent link: https://www.econbiz.de/10014530303
gains through lower volatility of aggregate consumption. This paper empirically looks at international consumption risk … financial liberalization and financial integration has a significantly positive impact on international consumption risk sharing … can thus partly explain why the degree of risk sharing is lower in developing countries than in advanced economies. …
Persistent link: https://www.econbiz.de/10011967365
this shift represents a financial stability risk. We consider the drivers of this growth in Sweden: a small, open economy …
Persistent link: https://www.econbiz.de/10015324111
Using a novel data set on capital control actions in 17 emerging-market economies (EMEs) over the period 2001 - 11, we provide new evidence on domestic and multilateral (or spillover) effects of capital controls. Our results, based on panel vector autoregressions, suggest that capital control...
Persistent link: https://www.econbiz.de/10011372773
decomposition analysis. The main results indicate that the contribution of global risk aversion to explain the evolution of debt …
Persistent link: https://www.econbiz.de/10012656099
Perfect consumption risk sharing requires both, frictionless goods as well as frictionless financial market integration …. This project aims at analyzing the consequences of both type of frictions for the allocation of risk across countries in a … consumption risk sharing depending on the nature of the underlying shock. …
Persistent link: https://www.econbiz.de/10011387161
Persistent link: https://www.econbiz.de/10011387171