Luca Fornaro
LucaFornaro3
Hysteresis strikes back! The view that deep recessions may damage future productive capacity, e.g. by leading firms to reduce investment in innovation, is gaining more and more traction in the
Read more
Is the US suffering an exorbitant burden? Due to the dominant role of the dollar, the US is able to borrow cheaply from the rest of the world, an effect
Read more
Updated version of The Global Financial Resource Curse (https://www.dropbox.com/s/6wch3u3pjdrz927/globfincurse_june2020.pdf?dl=0). Since the late 1990s, a global saving glut has pushed capital from developing countries to the US. But invest
Read more
Some thoughts on supply vs. demand and the Covid-19 crisis, partly sparked by this very nice thread by @jasonfurman https://twitter.com/jasonfurman/status/1261750314753036291?s=20. To me, especially looking at the post-epidemic phase, a key
Read more