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Luca Fornaro
LucaFornaro3
A thread on the euro and on its impact on welfare. Perhaps the most visible consequence of the euro has been a huge increase in capital mobility and financial integration
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Some thoughts on a recent piece by @MESandbu https://www.ft.com/content/5a92d0f1-e65f-4965-a685-bad83496e40f. First, the part I disagree with. Contrary to what argued in the article, multiple equilibria are deeply ingrained in mainstream ma
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Updated version of The Global Financial Resource Curse (https://www.dropbox.com/s/6wch3u3pjdrz927/globfincurse_june2020.pdf?dl=0). Since the late 1990s, a global saving glut has pushed capital from developing countries to the US. But invest
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Over the last 30 years, various factors have pushed up the global saving supply and depressed interest rates (https://twitter.com/profsufi/status/1272564374599864321?s=20). But the investment response has been lukewarm at best. So why
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