News Shocks in Open Economies

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This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly obser

News and Business Cycles in Open Economies

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Aggregate and sectoral comovement are central features of business cycle data. Therefore, the ability to generate comovement is a natural litmus test for macroe

News and Sovereign Default Risk in Small Open Economies

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This paper builds a model of sovereign debt in which default risk, interest rates, and debt depend not only on current fundamentals but also on news about futur

The Transmission of Domestic Shocks in Open Economies

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Uncertainty and the Stability of Financial Markets in Open Economies

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