Introduction: macroeconomic implications of capital flows in a global economy

• 成果类型: Editorial Material
• 署名作者: Bansal, R; Christiano, L; Mendoza, EG
• 署名单位: Duke University; Northwestern University; University System of Maryland; University of Maryland College Park
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2004.07.002
• 发表日期: 2004
• 页码: 1-5
• 关键词: FINANCIAL CRISIS; Financial integration; sudden stop; capital flows; government guarantee; Sunspot; sticky price; diversification

摘要

The papers in this volume address issues raised by the wave of financial crises that hit emerging markets since the mid 1990s. Several of the papers examine the role that different credit market frictions may have played in triggering the crises, or in determining the effects of policies aimed at containing them. Other papers ask more general questions about the implications of international financial integration for business cycles, risk sharing, and sovereign lending. (C) 2004 Elsevier Inc. All rights reserved.