master thesis msc in economics - 11th of june 2010 : explaining the retrenchment in global imbalances (during the recent financial crisis). great experience, ups and downs, sensible results:
a) Did Current Account (CA) deficit countries adjust more?
No, it was a global current account reversal!
b) What does explain the reduction in global imbalances?
Higher global CA imbalances (deficit/surplus) imply higher adjustments (increase/decrease in CA balance) –early warning system
c) Do economic and financial development explain cross-country differences in CA reversals?
-developing countries seem to have been obliged to adjust their CA more than
advanced economies, but real GDP matters only for some specifications
-bank leverage (claims/deposits) is relevant
d) Do trade and financial openness justify the retrenchment in external positions?
-trade openness remains significant for the 2008-2009 CA adjustment
lessons from working on the master thesis:
- concentrate on ideas - what do i want to show? where do i want, more or less, to arrive? - rather difficult to focus on these even after reading the literature and arranging the data
- keep it original - think about the subject and perceive it in my own manner
- read a lot, get idea, concentrating on keeping track: put things down even if you are not sure you will use them
- data: get through it, analyze it, feel it, keep the analysis simple and, only if still in time, try fancy things
- appreciate the learning process - redefine each day your target and thin if the step you are about to perform adds value and makes sense for the overall picture
- combine writing and scientific work, but still assume that when you have the results the writing comes very easily
- think of the best way to put down your knowledge and intuition - concentrate on trasmitting things nicely, simply and coherently
1 commentaires:
Welcome back to the blogosphere, Vero :)
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