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What is Global Financial Cycle Insights about?

This document summarizes a lecture given by Professor Hélène Rey on national monetary authorities and the global financial cycle. Some key points: 1. Financial globalization and cross-border capital flows have massively increased since the 1990s, though offshore financial centers manage a disproportionate amount of global wealth. 2. Welfare gains from financial integration due to risk sharing and capital allocation are small, challenging the conventional justifications for open financial accounts. 3. T

Author

Rao Tvara

Language

EN