Alan M. Taylor

TL;DR: This paper studied the behavior of money, credit, and macroeconomic indicators over the long run based on a newly constructed historical dataset for 12 developed countries over the years 1870-2008, utilizing the data to study rare events associated with financial crisis episodes.

TL;DR: This article studied the behavior of money, credit, and macroeconomic indicators over the long run based on a new historical dataset for 14 countries over the years 1870-2008 and found that credit growth is a powerful predictor of financial crises, suggesting that policymakers ignore credit at their peril.

TL;DR: In this article, a long literature since Feldstein and Horioka's seminal contribution documents the strong correlation of domestic saving and investment rates since the 1960s, and the result provides evidence of international capital market imperfections.

TL;DR: The long-run purchasing power parity (PPP) condition has been widely accepted as a long run equilibrium condition in the post-war period, and it first was advocated as a short-run equilibrium by many international economists in the first few years following the breakdown of the Bretton Woods system in the early 1970s and then increasingly came under attack on both theoretical and empirical grounds from the late 1970s to the mid 1990s as discussed by the authors.

TL;DR: An economic survey of international capital mobility from the late nineteenth century to the present is presented in this article, where the authors examine the theory and empirical evidence surrounding the fall and rise of integration in the world market.