Introduction: Macroeconomic implications of capital flows in a global economy

Ravi Bansal*, Lawrence Christiano, Enrique G. Mendoza

*Corresponding author for this work

Research output: Contribution to journalEditorialpeer-review

1 Scopus citations


The papers in this volume address issues raised by the wave of financial crises that hit emerging markets since the mid 1990s. Several of the papers examine the role that different credit market frictions may have played in triggering the crises, or in determining the effects of policies aimed at containing them. Other papers ask more general questions about the implications of international financial integration for business cycles, risk sharing, and sovereign lending.

Original languageEnglish (US)
Pages (from-to)1-5
Number of pages5
JournalJournal of Economic Theory
Issue number1 SPEC. ISS.
StatePublished - Nov 2004


  • Capital flows
  • Diversification
  • Financial crisis
  • Financial integration
  • Government guarantee
  • Sticky price
  • Sudden stop
  • Sunspot

ASJC Scopus subject areas

  • Economics and Econometrics


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