Could someone be so kind and quickly summarize the key take-aways of the article "Financial Opening: Evidence and Policy Options" by Joshua Aizenmann that talks about financial opening and crisis risk?
I have read the article but the conclusion is a bit vague in my opinion..
Nonehteless for me the main take aways are:
- Financial opening makes countries faces shared risk
- Worse for developing countries because they do not have strong institutions. COmmon to see twin-crisis: currency + banking
Reforming the financial system is really hard because of:
- Importance of political context and see how a change affect incentives (Lucas critique)
- Transparency costly to implement and possibility of loopholes
-Overdependence of risk indicators: cheating to give better image
8 months ago
Thank you! That definitely helped :)
8 months ago
Does anyone have a summary of the paper by DRISKILL (2012) that we had to read for TUTORIAL 3 ??
Would be amazing :)
Does anyone have the summary for this article (tutorial 3) and is willing to post it??? --> DECONSTRUCTING THE ARGUMENT
FOR FREE TRADE: A CASE STUDY
OF THE ROLE OF ECONOMISTS
IN POLICY DEBATES
You would do a huge favour to many people !! Thank you <3
A substitute is a general possibility to replace something with something else and got exactly the same outcome: If you eat a bread or a sandwich doesn't matter both are still satisfying the same need Complementaries are goods that add up to something or work hand in hand. A complementary for the sandwich would be cheese to arrive at a full product.
Positive selection in this case means that people are selected for there level of skill. The example in the text show that working people in foreign countries have a way higher education than the average from the country itself
2 years ago
Does anyone have a good comprehensive exam summary?