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global economy and in the functioning of an increasingly globalised world. …
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We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a … pattern Unbalanced Financial Globalization. We then simulate a counterfactual trajectory of the world economy where the RKO … wedges are fixed at their pre-globalization levels. We find that unbalanced financial globalization led to a worsening of …
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, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy …
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