cyclical pattern. Over that cycle, world asset prices, leverage, and capital flows move in concert with global growth …

changing demands for modern central bank interventions in the economy. Financial instability, followed by WWII, left a world …

explosive mix of lack of policy credibility and world capital market imperfections that afflict emerging economies with national …

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

We examine the evidence of contagion during the pre World War I era and the interwar and contrast our findings with the …