In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the boom-bust cycle' that

Analysis and evidence of how the factors that give rise to boom-bust cycles in fast-growing developing economies also enhance long-run growth. The volatility th

In this paper we document three credit market imperfections prevalent in middle income countries that can help explain the boom-bust cycles as well as other mac

Was the Meltdown of 2008 the first phase of the Great Depression of the 21st Century? In 2013, this global economic crisis is not over and no one knows the hour