Primiceri, Giorgio; Tambalotti, Andrea; Justiniano, … - National Bureau of Economic Research (NBER) - 2013
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...