Liquidity shocks, real interest rates, and global imbalances
AbstractThe author uses a simple neoclassical model to show how liquidity shocks at home and abroad can contribute to trade imbalances and low real interest rates. The author’s interpretation is consistent with Bernanke’s (2005) “global saving glut” hypothesis.
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Bibliographic InfoArticle provided by Federal Reserve Bank of St. Louis in its journal Review.
Volume (Year): (2012)
Issue (Month): May ()
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- Kjetil Storesletten & Fabrizio Zilibotti & Zheng Song, 2009.
"Growing like China,"
2009 Meeting Papers
912, Society for Economic Dynamics.
- Zhiwei XU & Yi Wen & pengfei Wang, 2013.
"Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach,"
2013 Meeting Papers
406, Society for Economic Dynamics.
- Pengfei Wang & Yi Wen & Zhiwei Xu, 2012. "Two-way capital flows and global imbalances: a neoclassical approach," Working Papers 2012-016, Federal Reserve Bank of St. Louis.
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