It takes the average reader 1 hour and 8 minutes to read How Important is the Global Financial Cycle? Evidence from Capital Flows by Mr.Eugenio M Cerutti
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This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use two methods to represent it: directly observable variables in center economies often linked to it, such as the VIX; and indirect manifestations, proxied by common dynamic factors extracted from actual capital flows. Our evidence seems mostly inconsistent with a significant and conspicuous GFCy; both methods combined rarely explain more than a quarter of the variation in capital flows. Succinctly, most variation in capital flows does not seem to be the result of common shocks nor stem from observables in a central country like the United States.
How Important is the Global Financial Cycle? Evidence from Capital Flows by Mr.Eugenio M Cerutti is 67 pages long, and a total of 17,219 words.
This makes it 23% the length of the average book. It also has 21% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes 1 hour and 34 minutes to read How Important is the Global Financial Cycle? Evidence from Capital Flows aloud.
How Important is the Global Financial Cycle? Evidence from Capital Flows is suitable for students ages 8 and up.
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