TY  - JOUR
AU  - Mishkin,Frederic S.
TI  - International Capital Movements, Financial Volatility and Financial Instability
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6390
PY  - 1999
Y2  - August 1999
UR  - http://www.nber.org/papers/w6390
L1  - http://www.nber.org/papers/w6390.pdf
N1  - Author contact info:
Frederic S. Mishkin
Columbia University
Graduate School of Business
Uris Hall 817
3022 Broadway
New York, NY 10027
Tel: 212-854-3488
Fax: 212/662-8474
E-Mail: fsm3@columbia.edu
AB  - 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.
ER  -