• Gita Gopinath


Expropriation Dynamics. Aguiar, Mark, Manuel Amador, and Gita Gopinath. 2009, Paper. "Many emerging market economies oscillate between periods of high and low growth (see Aguiar and Gopinath 2007). These changes in growth regimes generate business cycles that are markedly different from the ones observed in developed countries: consumption and investment are volatile relative to output, and net exports are strongly countercyclical. This volatility is often accompanied by sharp changes in the policy environment as well. For example, Figure 1 shows the relationship between two measures of expropriation..." Link