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Why are capital flows so much more volatile in emerging than in developed countries?
One of the most studied subjects in open macroeconomics is what determines capital flows. In general, most papers are concerned with estimating the following regression. where the left-hand side is some measurement of capital flows, either as a percentage of gross domestic product (GDP) or as changes, ...
Macroeconomic and financial stability: an overview
On September 2008 Lehman Brothers filed for bankruptcy and the world became aware that the financial crisis that had been unfolding for months was far more serious than expected. Months later it became clear that the financial crisis of 2008-2009 was the worst economic downturn since the Great Depression ...