Macroeconomic Adjustment and the History of Crises in Open Economies
---- Acknowledgements -----
We thank Amy Wood and Zack Dorner for excellent research assistance. We also thank audiences at Victoria University and the JIMF 30th Anniversary conference, Fordham University, NY, especially Harris Dellas, Michael King, Jim Lothian and Michael Melvin. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.