“...The NBER International Seminar on Macroeconomics brings together leading American and European economists to discuss a broad range of current issues in global macroeconomic...”

“...This paper studies the international propagation of sovereign debt default. We posit a two-country economy where capital constrained banks grant loans to firms...”

“...Institutional lending in crisis is evaluated from a theoretical point of view. First, the share of senior loans in new loans is irrelevant under a given...”

“...We show that the negative impact of financial crises on trade is magnified for destinations with longer time-to-ship. A simple model where exporters react to...”

“...We examine the properties of house price fluctuations across eighteen advanced economies over the past forty years. We ask two specific questions: First, how...”

“...This paper investigates, in a simplified macro context, the joint determination of the (incorrect) perceived model and the equilibrium. I assume that the model...”

“...It has been suggested that countries which export in especially risky sectors will experience higher output volatility. This paper develops a measure of the...”