2021 UCLA Anderson Fink Center Conference on Financial Markets

Conference Event:April 22-23, 2021 Event Location:Online Organizer(s):UCLA Anderson School of Management The Fink Center for Finance and the Finance area at the UCLA Anderson School of Management are delighted to host the second annual UCLA Anderson Fink Center Conference on Financial Markets, April 22-23, 2021, via Zoom. The conference will feature high-quality academic research relating[…]

January 2021: New Bank Underground Post – How does international capital flow?

By Michael Kumhof, Phurichai Rungcharoenkitkul and Andrej Sokol Understanding gross capital flows is crucial for both macroeconomic and financial stability policy. However, theory is lagging behind empirical work, as much of the literature continues to rely on net capital flow models developed many decades ago. Missing from these models is an explicit tracking of the[…]

IMF Working Paper: Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword

Author(s): Barry J. Eichengreen, Balazs Csonto, Asmaa A ElGanainy and Zsoka Koczan Date: January 2021 Abstract: We review the debate on the association of financial globalization with inequality. We show that the within-country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact[…]

CEPR Working Paper: Why Does Capital Flow from Equal to Unequal Countries?

Author(s): Sergio de Ferra, Kurt Mitman and Federica Romei Date: January 2021 Abstract: Capital flows from equal to unequal countries. We document this empirical regularity in a large sample of advanced economies. The capital flows are largely driven by private savings. We propose a theory that can rationalize these findings: more unequal countries endogenously develop[…]