in The Review of Economic Studies
January 2011; p ublished online January 2011 .
Journal Article. Subjects: International Trade; International Financial Markets; International Finance. 17257 words.
We study the effects of globalization on risk sharing and welfare. Like the previous literature, we assume that governments cannot commit to enforce the repayment of debts owed by their...
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in Review of Finance
August 2015; p ublished online September 2014 .
Journal Article. Subjects: International Trade; International Financial Markets; Economics; International Finance. 18423 words.
We study the dynamics of stock market integration and its consequences during the recent financial crisis for twenty-three developed and sixty emerging markets. We find that integration...