A Quantitative Model of Sudden Stops and External Liquidity Management
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Emerging market economies, which have much of their growth ahead of them, run persistent current account deficits in order to smooth consumption intertemporally. The counterpart of these deficits is their dependence on capital inflows, which can suddenly stop. In this paper we develop and estimate a
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美国国家经济研究局创建时间:
2005-05-01



