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国际经济学与实证产业组织workshop：International Capital Flows: Private versus Public
发布日期：2019-10-10 12:00 来源：
时间：2019年10月10日（周四）2：00－3：30 pm
地点：大陆成人直播-成人直播中文 致福轩会议室
主持人：黄益平、余淼杰、 余昌华、邢剑炜
主讲人：Yun Jung Kim（Sogang University）
Title: International Capital Flows: Private versus Public
Abstract:Empirically, total capital inflows are pro-cyclical in developed countries and counter- cyclical in developing countries. Underneath this difference, private inflows are pro-cyclical and public inflows are counter-cyclical in both groups. Dominance of private (public) inflows in developed (developing) countries drives the difference. We rationalize these patterns using a two-sector DSGE model of a small open economy facing borrowing con- straints. Private agents over-borrow under the pecuniary externality from the constraints. The government saves abroad to reduce aggregate debt, making the economy resilient to adverse shocks. Differences in borrowing constraints and shock processes across country groups explain empirical patterns of capital inflows.
Speaker:Yun Jung Kim is an Associate Professor of Economics in Sogang University. She received her Ph.D. in economics from the University of Michigan, and she holds a master degree in Public Administration from Harvard Kennedy School. Her main research interests is International Finance, Macroeconomics, International Trade and Applied Time Series Econometrics. Her papers are published in Journal of Applied Econometrics, Journal of International Economics, Review of Economics and Statistics, Economic Modelling, etc.
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大陆成人直播
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国际经济学与实证产业组织workshop：International Capital Flows: Private versus Public
发布日期：2019-10-10 12:00 来源：
时间：2019年10月10日（周四）2：00－3：30 pm
地点：大陆成人直播-成人直播中文 致福轩会议室
主持人：黄益平、余淼杰、 余昌华、邢剑炜
主讲人：Yun Jung Kim（Sogang University）
Title: International Capital Flows: Private versus Public
Abstract:Empirically, total capital inflows are pro-cyclical in developed countries and counter- cyclical in developing countries. Underneath this difference, private inflows are pro-cyclical and public inflows are counter-cyclical in both groups. Dominance of private (public) inflows in developed (developing) countries drives the difference. We rationalize these patterns using a two-sector DSGE model of a small open economy facing borrowing con- straints. Private agents over-borrow under the pecuniary externality from the constraints. The government saves abroad to reduce aggregate debt, making the economy resilient to adverse shocks. Differences in borrowing constraints and shock processes across country groups explain empirical patterns of capital inflows.
Speaker:Yun Jung Kim is an Associate Professor of Economics in Sogang University. She received her Ph.D. in economics from the University of Michigan, and she holds a master degree in Public Administration from Harvard Kennedy School. Her main research interests is International Finance, Macroeconomics, International Trade and Applied Time Series Econometrics. Her papers are published in Journal of Applied Econometrics, Journal of International Economics, Review of Economics and Statistics, Economic Modelling, etc.
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