International Capital Flows and Aggregate Output
We develop a tractable multi-country overlapping-generations model and show that cross-country differences in financial development explain three recent empirical patterns of international capital flows. Domestic financial frictions in our model distort interest rates and aggregate output in the les...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2010
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/1231 https://ink.library.smu.edu.sg/context/soe_research/article/2230/viewcontent/ICF_AO_new.pdf |
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| Institution: | Singapore Management University |
| Language: | English |