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Global Imbalances and Currency Wars at the ZLB

Caballero, Ricardo J. - 2015

This paper explores the consequences of extremely low equilibrium real interest rates in a world with integrated but heterogenous capital markets and nominal rigidities. In this context, we establish five main results: (i) Economies experiencing liquidity traps pull others into a similar...

Persistent link: https://www.econbiz.de/10012456999

Excessive dollar debt : financial development and underinsurance

Caballero, Ricardo J.; Krishnamurthy, Arvind - In: The journal of finance : the journal of the American … 58 (2003) 2, pp. 867-893

Persistent link: https://www.econbiz.de/10001750614

Excessive dollar debt : financial development and underinsurance

Caballero, Ricardo J. (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001672833

Excessive Dollar Debt : Financial Development and Underinsurance

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003

dollar-denominated external debt present in these markets. We show that when financial constraints affect borrowing and … domestic agents choose excessive dollar debt. We also show that limited financial development reduces the incentives for …

Persistent link: https://www.econbiz.de/10014080321