Eurozone - a sensible absorption of risk capital?
This paper aims to prove that in countries with no inter-zonal real estate divergence caused by lack of uniform economic development, labor migration trends or other causes, the real estate price movements tend to be correlated with currency movements, thus a certain vulnerability to hot money exists however it may be manageable.
Volume (Year): 1 (2008)
Issue (Month): (December)
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- Guillermo A. Calvo & Carmen M. Reinhart, 2000.
"Fear of Floating,"
NBER Working Papers
7993, National Bureau of Economic Research, Inc.
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