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Morality Tales and Capital Flows

…had consisted largely of portfolio investments and cross-border lending. Moreover, they claimed, capital surges worsen the current account deficits that precede sudden stops (see also here). Stijn Claessens of the…

Accountability Bond Accounting

…no effect on the amount the Treasury could raise. Investors all buy equal proportions of all risky assets, so each would reconstruct average new bonds with a portfolio of new…