International Capital Movements, Financial Volatility and Financial Instability

38 Pages Posted: 15 Sep 2000 Last revised: 18 Jun 2018

See all articles by Frederic S. Mishkin

Frederic S. Mishkin

Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)

Date Written: August 1999

Abstract

This lecture outlines an asymmetric information theory of financial instability which describes the fundamental forces which harm both the financial sector and economic activity. This asymmetric information framework is then used to demonstrate that although international capital movements and financial volatility can play a role in destabilizing the economy is frequently overstated.

Suggested Citation

Mishkin, Frederic S., International Capital Movements, Financial Volatility and Financial Instability (August 1999). NBER Working Paper No. w6390, Available at SSRN: https://ssrn.com/abstract=226138

Frederic S. Mishkin (Contact Author)

Columbia Business School - Finance and Economics ( email )

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National Bureau of Economic Research (NBER)

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