We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...

A speech delivered on January 15, 2014, at the Corridor Economic Forecast Luncheon in Coralville, IA.

Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Fond du Lac Area Association of Commerce Fond du Lac, WI