In sum, economists can find arguments to explain why countries are able to borrow abroad despite the limited rights of creditors. But the arguments are surprisingly complex, suggesting that sustainable debt levels may be fragile as well. Concerns over future access to capital markets, maintaining trade, and possibly broader international relations all support debt flows, with the relative emphasis and weights depending on factors specific to each situation. That is, even if lenders cannot directly go in and seize assets as in a conventional domestic default, they still retain leverage sufficient to entice a country to repay loans of at least modest size. We can dismiss, however, the popular notion that countries pay back their debts so that they can borrow even more in the future. Ponzi sc... (查看原文)
Two features stand out from the summary statistics presented in table. First is the persistence of the cycle in real housing prices in both advanced economies and emerging markets, typically for four to six years. The second feature that stands out from table is that the magnitudes of the declines in real housing prices around banking crises from peak to trough are not appreciably different in emerging and advanced economie. This comparability is quite surprising given that most macroeconomic time series exhibit drastically greater volatility in emerging markets; therefore, it merits further attention. Certainly the first results presented here from comparisons of housing price booms and busts around the dates of banking crises appears to provide strong support for the contention that bank... (查看原文)
dbVeritas
机械工业出版社2010版
猪王23
机械工业出版社2010版
matata18
机械工业出版社2010版
左其盛
机械工业出版社2020版
0 有用 Hedwig 2017-03-03 22:28:35
除了被遗忘的，没有什么是新东西。高悬于头顶的达摩克利斯之剑，这次是否真的不一样
2 有用 Xiaofeng 2015-01-29 23:08:53
名字太令人期待，但是内容缺乏主旨；可以做参考资料，论述深度不足。
0 有用 Kris 2013-01-22 18:16:12
过程很艰难。。。
4 有用 怪咖研究院长长 2013-03-19 22:42:58
无聊，无用
3 有用 liang 2012-12-18 17:55:28
很无聊的书，味同嚼蜡，来不及进入我读列表就被翻完了，全新，谁要，出个邮费就给