Balance Sheets, the Transfer Problem, and Financial Crises英语教案.pdfVIP

International Tax and Public Finance, 6, 459–472 (1999) c 1999 Kluwer Academic Publishers, Boston. Manufactured in The Netherlands. Balance Sheets, the Transfer Problem, and Financial Crises PAUL KRUGMAN krugman@mit.edu MIT, Department of Economics, Cambridge, MA 02139 Abstract In a world of high capital mobility, the threat of speculative attack becomes a central issue of macroeconomic p