Asset bubbles and sudden stops in a small open economy
Mostra el registre complet Registre parcial de l'ítem
- dc.contributor.author Martin, Alberto, 1974-
- dc.contributor.author Ventura, Jaume
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2020-05-25T09:27:05Z
- dc.date.available 2020-05-25T09:27:05Z
- dc.date.issued 2014-09-01
- dc.date.modified 2020-05-25T09:24:32Z
- dc.description.abstract We live in a new world economy characterized by financial globalization and historically low interest rates. This paper presents a simple analytical framework that helps us understand how this new world economy works from the perspective of an emerging economy. Financial globalization gives rise to episodes of large capital inflows followed by sudden stops. Low international interest rates give rise to asset bubbles that pop and burst. The analysis provides novel answers to old questions: What are the effects of asset bubbles on capital flows and macroeconomic performance? How do these effects vary in normal times and during sudden stops? How should policymakers manage capital flows in this new environment?
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1466
- dc.identifier.citation Radatz, C., Saravia, D. and Ventura, J. (Eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 315-341, 2014
- dc.identifier.uri http://hdl.handle.net/10230/23125
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1466
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword financial globalization
- dc.subject.keyword international capital flows
- dc.subject.keyword sudden stops
- dc.subject.keyword asset bubbles
- dc.subject.keyword capital controls.
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Asset bubbles and sudden stops in a small open economy
- dc.type info:eu-repo/semantics/workingPaper