The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it.
In this paper, we provide an empirical and theoretical analysis of the credit boom and the …

This paper provides an empirical investigation of both the within-US and international
channels of transmission of macroeconomic and financial shocks by means of a 50-country …

This paper analyses the role of asset prices in comparison to other factors, in particular
exchange rates, as a driver of the US trade balance. It employs a Bayesian structural VAR …

Since the mid‐1990s and prior to the financial crisis external balances of systemically
important economies widened significantly. This paper takes a long‐run perspective and …

Çalışmanın amacı, Türkiye'nin dış ticaret açıklarını etkileyen temel faktörleri, maliye, para ve
döviz kuru politikası çerçevesinde incelemektir. Bu amaçla çalışmada, esnek döviz kuru …

Based on the theory of production, this paper investigates information technology (IT)
contribution at a country level by linking it to the complementarity/substitutability phenomena …

This paper investigates the development of external imbalances from an international
perspective by estimating a Global VAR model. Specifically, we simulate the effects of …

This paper makes two contributions. On the theory side, I show that increases in the demand
for housing may generate trade deficits without need for the standard ingredients used by …

Since the late-1990s, the global economy is characterised by historically low risk premia and
an unprecedented widening of external imbalances. This paper explores to what extent …

The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it
and the macroeconomic context in which it developed. This article examines the contribution …