Browsing Departament d'Economia i Empresa by Author "Ventura, Jaume"

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Browsing Departament d'Economia i Empresa by Author "Ventura, Jaume"

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  • Ventura, Jaume (2005)
    This paper integrates in a unified and tractable framework some of the key insights of the field of international trade and economic growth. It examines a sequence of theoretical models that share a common description of ...
  • Ventura, Jaume (2002)
    This paper presents a stylized model of international trade and asset price bubbles. Its central insight is that bubbles tend to appear and expand in countries where productivity is low relative to the rest of the world. ...
  • Kray, Aart; Ventura, Jaume (2001)
    Business cycles are both less volatile and more synchronized with the world cycle in rich countries than in poor ones. We develop two alternative explanations based on the idea that comparative advantage causes rich countries ...
  • Kraay, Aart; Loayza, Norman; Servén, Luis; Ventura, Jaume (2000)
    Capital flows to developing countries are small and are mostly take the form of loans rather than direct foreign investment. We build a simple model of North-South capital flows that highlights the interplay between ...
  • Martin, Alberto; Ventura, Jaume (2003)
    We develop a stylized model of economic growth with bubbles. In this model, changes in investor sentiment lead to the appearance and collapse of macroeconomic bubbles or pyramid schemes. We show how these bubbles mitigate ...
  • Broner, Fernando; Martin, Alberto; Ventura, Jaume (2007)
    There is a large and growing literature that studies the effects of weak enforcement institutions on economic performance. This literature has focused almost exclusively on primary markets, in which assets are issued and ...
  • Martin, Alberto; Ventura, Jaume (2012)
    As a result of debt enforcement problems, many high-productivity firms in emerging economies are unable to pledge enough future profits to their creditors and this constrains the financing they can raise. Many have argued ...
  • Martin, Alberto; Ventura, Jaume (2012)
    We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give rise to ...
  • Broner, Fernando; Ventura, Jaume (2010)
    During the last few decades, many emerging markets have lifted restrictions on cross-border financial transactions. The conventional view was that this would allow these countries to: (i) receive capital inflows from ...
  • Broner, Fernando; Erce, Aitor; Martin, Alberto; Ventura, Jaume (2013)
    In 2007, countries in the euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, ...
  • Broner, Fernando; Martin, Alberto; Ventura, Jaume (2006)
    Conventional wisdom views the problem of sovereign risk as one of insufficient penalties. Foreign creditors can only be repaid if the government enforces foreign debts. And this will only happen if foreign creditors can ...
  • Ventura, Jaume; Kraay, Aart (2005)
    Over the past decade the US has experienced widening current account deficits and a steady deterioration of its net foreign asset position. During the second half of the 1990s, this deterioration was fueled by foreign ...
  • Martin, Alberto; Ventura, Jaume (2010)
    We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore ...
  • Carvalho, Vasco; Martin, Alberto; Ventura, Jaume (2012)

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