Jeffrey A. Frankel

TL;DR: This paper found that trade has a quantitatively large and robust, though only moderately statistically significant, positive effect on income and that countries' geographic characteristics have important effects on trade, and are plausibly uncorrelated with other determinants of income.

TL;DR: The authors investigated the relationship between international trade patterns and international business cycle correlations and found that countries with closer trade links tend to have more tightly correlated business cycles and were more likely to satisfy the criteria for entry into a currency union after taking steps toward economic integration than before.

TL;DR: This paper investigated the relationship between international trade patterns and international business cycle correlations and found that countries with closer trade links tend to have more tightly correlated business cycles, while countries with weaker trade links tended to have weaker business cycles.

TL;DR: The authors defined a currency crash as a large change of the nominal exchange rate that is also a substantial increase in the rate of change of nominal depreciation, and used a panel of annual data for over 100 developing countries from 1971 through 1992 to characterize currency crashes.

TL;DR: In this article, the authors developed a model which is a version of the asset view of the exchange rate, in that it emphasizes the role of expectations and rapid adjustment in capital markets, and it combines the Keynesian assumption of sticky prices with the Chicago assumption that there are secular rates of inflation.