Pierre-Olivier Gourinchas

TL;DR: Gopinath et al. as mentioned in this paper proposed a "dominant currency paradigm" with three key features: dominant currency pricing, pricing complementarities, and imported inputs in production, and test this paradigm using a new dataset of bilateral price and volume indices for more than 2,500 country pairs that covers 91 percent of world trade.

TL;DR: In this paper, the authors proposed a unified framework to study the dynamics of net foreign assets and exchange rate movements, and showed that deterioration in a country's net exports or net foreign asset position have to be matched either by future net export growth (trade adjustment channel) or by future increases in the returns of the net-foreign asset portfolio (hitherto unexplored financial adjustment channel).

TL;DR: In this article, the authors estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database.

TL;DR: In this paper, the authors argue that the persistent global imbalances, the subprime crisis, and the volatile oil and asset prices that followed it, are tightly interconnected, and they all stem from a global environment where sound and liquid financial assets are in scarce supply.

TL;DR: In this paper, the impact of exchange rate #uctuations on inter- and intrasectoral job reallocation is evaluated. And the model predicts a b F31; F4; J4; E24.