The authors use the Bank of Canada's version of the Global Economy Model, a multi-country, multi-sector dynamic stochastic general-equilibrium model with an active banking system (the BoC-GEM-FIN), to study the evolution of global current account balances following the recent global financial...

The average adult human brain weighs around 3 lbs. and every day the average person has around 50,000-70,000 thoughts that between 70% to 80% of those are negative so around 40,000 to 50,000. Negative thoughts in a day that need to be managing and filtering not small task for any person. We...

Today, the global community is faced with a new vision of the economy that aims to coordinate public policies with the purpose of ensuring sustainable growth to facilitate economic recovery under the current conditions and after the COVID-19 pandemic. The purpose of the study is to create a...

The recovery in private business investment globally remains extremely weak more than seven years after the financial crisis. This paper contributes to the ongoing policy debate on the factors behind this weakness by analyzing the role of growth prospects and uncertainty in explaining...

Paul Samuelson's recent article in the Journal of Economic Perspectives (2004) started drawing attention even before it was officially published (Fingleton, 2004). His conclusions go against the weight of 200 years of trade theory in concluding that international trade can, at times, result in...

The paper provides an operational definition of the concept of globalisation and reviews the pro-globalisers' case for the worrld-wide spread of free market capitalism through the implementation of the 'Washington Consensus'. The pros and cons of the case for capital account liberalisation and...

This paper assesses the relative merits and demerits of different East Asian models by placing them in a historical perspective. It re-interprets Gerschenkron's model of late industrialization, and extends it to compare East Asian economies in view of substituting and complementing models. It...

In this paper, role of international trade in economic development is discussed, both from the perspective of theoretical development and empiricism. In particular, it revisits theories pertaining to intra-industry and inter-industry trade and presents evidences of resilience in intra-industry...

This paper analyses the international transmission of monetary shocks with a special focus on the effects of foreign money ("global liquidity") on the euro area. We estimate structural VAR models for the euro area and the global economy including a global liquidity aggregate. The impulse...