http://www.voxeu.org/index.php?q=node/7587 Pierre-Olivier Gourinchas Maurice Obstfeld 1 February 2012 What explains the different effects of the crisis around the world? This column compares the 2007–09 crisis to earlier episodes of banking, currency, and sovereign debt distress and identifies domestic-credit booms and real currency appreciation as the most significant predictors of future crises, in both advanced and emerging…
Leer más
