“...During the pre-crisis period, Europe experienced substantial cross-country variation in domestic credit growth and cross-border capital flows. We investigate...”

“...The causes of the 2008 collapse and subsequent surge in global capital flows remain an open and highly controversial issue. Employing a factor model coupled...”

“...► We employ a regression discontinuity design to identify the impact of NIH postdoctoral fellowship receipt on subsequent research productivity. ► We find that...”

“...This paper presents the first comprehensive Target database of the Eurozone and interprets it from an economic perspective. We show that the Target accounts...”

“...Domestic factors, such as credit and preference shocks, can explain the negative correlation between house prices and the current account in the U.S. and...”

“...We provide a theory of the determination of exchange rates based on capital flows in imperfect financial markets. Capital flows drive exchange rates by...”

“...In this paper, we present a model of the financial resource curse (i.e., episodes of abundant access to foreign capital coupled with weak productivity growth)...”

“...This paper addresses the empirical question of whether trade and financial openness can help explain the recent pace in financial development, as well as its...”