Emerging market business cycles: The cycle is the trend

M Aguiar, G Gopinath - Journal of political Economy, 2007 - journals.uchicago.edu
Emerging market business cycles exhibit strongly countercyclical current accounts,
consumption volatility that exceeds income volatility, and “sudden stops” in capital inflows …

Terrorism and the world economy

A Abadie, J Gardeazabal - European economic review, 2008 - Elsevier
It has been argued that terrorism should not have a large effect on economic activity,
because terrorist attacks destroy only a small fraction of the stock of capital of a country (see …

Home bias in open economy financial macroeconomics

N Coeurdacier, H Rey - Journal of Economic Literature, 2013 - pubs.aeaweb.org
Home bias is a perennial feature of international capital markets. We review various
explanations of this puzzling phenomenon highlighting recent developments in …

International capital flows

C Tille, E Van Wincoop - Journal of international Economics, 2010 - Elsevier
The surge in international asset trade since the early 1990s has lead to renewed interest in
models with international portfolio choice. We develop the implications of portfolio choice for …

Thirty years of current account imbalances, current account reversals, and sudden stops

S Edwards - IMF staff papers, 2004 - Springer
In this paper I analyze the anatomy of current account adjustments in the world economy
during the past three decades. The main findings may be summarized as follows:(i) Major …

[图书][B] The external balance assessment (EBA) methodology

MS Phillips, ML Catao, MLA Ricci, MR Bems, MM Das… - 2014 - books.google.com
The External Balance Assessment (EBA) methodology has been developed by the IMF's
Research Department as a successor to the CGER methodology for assessing current …

Rethinking the effects of financial globalization

F Broner, J Ventura - The quarterly journal of economics, 2016 - academic.oup.com
During the past three decades, many countries have lifted restrictions on cross-border
financial transactions. We present a simple model that can account for the observed effects …

Is the US current account deficit sustainable? And if not, how costly is adjustment likely to be?

S Edwards - 2005 - nber.org
In this paper I analyze the relationship between the US dollar and the US current account. I
deal with issues of sustainability, and I discuss the mechanics of current account adjustment …

International capital flows, returns and world financial integration

MDD Evans, VV Hnatkovska - Journal of International Economics, 2014 - Elsevier
International capital flows have increased dramatically since the 1980s, with much of the
increase being due to trade in equity and bond markets. Such developments are often …

Is the Feldstein–Horioka puzzle history?

J Coakley, AM Fuertes, F Spagnolo - The Manchester School, 2004 - Wiley Online Library
A country's intertemporal budget constraint implies current account stationarity or that its
saving and investment rates should cointegrate. However, such behaviour may not pertain …