Similar Search Results

Excess Savings and Twin Deficits : The Transmission of Fiscal Stimulus in Open Economies

Aggarwal, Rishabh; Auclert, Adrien; Rognlie, Matthew; … - National Bureau of Economic Research - 2022

We study the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world … economy. In the long run, increases in government debt anywhere raise the world interest rate and increase private wealth … are consistent with the evolution of the world's balance of payments since the beginning of the Covid pandemic …

Persistent link: https://www.econbiz.de/10013334403

Financial Crises, Credit Booms, and External Imbalances : 140 Years of Lessons

Jordà, Òscar - 2010

Do external imbalances increase the risk of financial crises? In this paper, we study the experience of 14 developed …

Persistent link: https://www.econbiz.de/10012462090

A Century of Current Account Dynamics

Taylor, Alan M. - 2002

Recent globalization trends have refocused attention on the historical evolution of international capital mobility over the long run. The issue is examined here using time-series analysis of current-account dynamics for fifteen countries since circa 1850. The inter-war period emerges as an era...

Persistent link: https://www.econbiz.de/10012469787

External Imbalances and Financial Crises

Taylor, Alan M. - 2012

In broad perspective, there have been essentially two competing views of the global financial crisis, albeit there are some complementarities among them. One view looks across the border: it mainly blames external imbalances, the large-scale mix of unprecedented pattern current account deficits...

Persistent link: https://www.econbiz.de/10012460056