Fabrizio Perri

TL;DR: In this paper, the empirical relation between the interest rates that emerging economies face in international capital markets and their business cycles was investigated, showing that interest rate shocks alone can explain 50% of output fluctuations and can generate business cycle patterns consistent with the regularities described above and with the major booms and recessions in Argentina in the last two decades.

TL;DR: In this paper, the authors present a model of a small open economy, where the real interest rate is decomposed in an international rate and a country risk component, and the model generates business cycles consistent with Argentine data.

TL;DR: In this article, all data and codes necessary to replicate results of the article were provided, including the data for figures, and all the data and code necessary to verify the results.

TL;DR: In this paper, the authors present a two-country, two-good model in which there do not exist any markets for international trade in financial assets and compare the predictions of this model to those of two other models, one in which markets are complete and a second in which a single non-contingent bond is traded.

TL;DR: In this article, the authors studied the relationship between the distribution of income and consumption in the US over a period of 25 years and found that, while income inequality has increased, it has not been accompanied by a corresponding rise in consumption inequality.