Financial Integration, Financial Development, and Global Imbalances

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Undervaluation through foreign reserve accumulation: Static losses, dynamic gains (2010, background): “2See e.g. Aizenman and Marion (2003), Durdu et al. (2009), Mendoza et al. (2009) or Carroll and Jeanne (2009) for proponents of this view.”
Exorbitant privilege and exorbitant duty (2010, background): “25 e empirical evidence discussed in Nakamura et al. (2010) supports the notion that some disasters are local and others global.”
Rethinking the Effects of Financial Globalization (2016, neutral): “…(2001), Shleifer and Wolfenzon (2002), Aoki, Benigno, and Kiyotaki (2006), Jeske (2006), Caballero, Farhi, and Gourinchas (2008), Antràs and Caballero (2009), Mendoza, Quadrini, and Rios-Rull (2009), Martin and Taddei (2013), and Castiglionesi, Feriozzi, and Lorenzoni (2015) among others.”
Credit constraints and growth in a global economy (2012, neutral): “S Y i = − g 1 + e(1 + gL) (1 − α) θ R + g 1 + g 1 1 + e(1 + gL) (1 − α) 1 − θ 1 + β−σR1−σ + δk, (19)”