Emerging market policy makers have been concerned about the financial stability implications of financial globalization. These concerns are focused on behavior under stressed conditions. Do tail events in the home country trigger off extreme responses by foreign investors – are foreign...

Emerging market policy makers have been concerned about the financial stability implications of financial globalisation. These concerns are focused on behaviour under stressed conditions. Do tail events in the home country trigger off extreme responses by foreign investors - are foreign...

The standard evolutionary explanation for depression is that being emotionally depressed is adaptive. We argue that being depressed is not adaptive (indeed, quite the opposite), but that the threat of depression for bad outcomes and the promise of pleasure for good outcomes are adaptive because...