Browsing FAS Scholarly Articles by Keyword "financial frictions"
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On the Role of Financial Frictions and the Saving Rate during Trade Liberalizations
(Massachusetts Institute of Technology Press, 2010)We study how financial frictions and the saving rate shape the long-run effects of trade liberalization on income, consumption and the distribution of wealth in financially underdeveloped economies. In our model, regardless ... -
Trade and Capital Flows: A Financial Frictions Perspective
(National Bureau of Economic Research, 2007)The classical Heckscher-Ohlin-Mundell paradigm states that trade and capital mobility are substitutes, in the sense that trade integration reduces the incentives for capital to flow to capital-scarce countries. In this ...