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Ly-Dai, Hung: Productivity growth and international capital flows in an integrated world. 2017
Inhalt
General Introduction
Safe Assets Accumulation and International Capital Flows
Non-Linear Pattern of International Capital Flows
Savings, Capital Accumulation and International Capital Flows
Outline of Thesis
Global Imbalances with Safe Assets in a Monetary Union
Introduction
The model
The economic setting
Characterization of equilibrium
Safe Assets and Risk-sharing
International Capital Flows
Current Account
Net Foreign Assets
Cross-border capital flows and Productivity
Empirical Analysis
Descriptive Statistics
Evidences
Conclusion
Appendices
Empirical analysis
Proofs
Extended model: Safe assets scarcity
Extended model: Exorbitant privilege
Non-Linear Pattern of International Capital Flows
Introduction
Empirical analysis
Theory
Production
Consumption
Bank
Government
Equilibrium
International Capital Flows
Direction of International Capital Flows
Non-Linear Pattern of International Capital Fows
Conclusion
Appendices
Data appendix
Proofs
Extended model: Public expenditure
Saving Wedge, Productivity Growth and International Capital Flows
Introduction
Saving wedge: Definition
Empirical evidences
Benchmark Model: Productivity growth and International capital flows
Production
Consumption
Government
Equilibrium
International capital flows
Long-run capital accumulation
Conclusion
Appendices
Data Appendix
Extended model: Public debt
Extended model: capital flows in the club of convergence
General Conclusion