We examine Vietnam's economy in comparison with its closest trade partners. We show that
capital accumulation has been the primary growth engine since the start of its transition to …

We study the sovereign debt duration chosen by the government in the context of a standard
model of sovereign default. The government balances off increasing the duration of its debt …

A literature debates the explanations for the cyclical properties of emerging markets using
either trend shocks (Aguiar and Gopinath 2007) or financial frictions (Neumeyer and Perri …

The findings of this study are as follows. First, permanent productivity shocks play a
dominant role in South African business cycles. Second, the migration outflow has a …

In this paper, we summarize the recent advancement of emerging-economies
macroeconomics. We begin with stylized facts and models of real business-cycles (RBCs) …

Fluctuation in economic activities has continued to be an issue of concern to policymakers in
emerging markets and world economies in general. This is because economic activities …

The first chapter investigates how households' smooth consumption against idiosyncratic
wage shocks in recessions and expansions. Labour market uncertainty amplifies during …

Does improving access to financial institutions always facilitate consumption smoothing? I
document new empirical evidence that emerging economies with better access to banks are …

The paper focuses on identification of the characteristics of the business cycles in Serbia. In
that purpose, the empirical connection between the aggregate economic activity and key …

Over the last 50 years, developing and emerging markets have displayed more hectic
growth patterns than advanced economies: their business cycle is twice as volatile, and they …