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Population aging and international capital flows

Domeij, David (contributor); Flodén, Martin (contributor) - 2003 - [Elektronische Ressource]

We use the neoclassical growth framework to model international capital flows in an economy with exogenous demographic change. We compare model implications and actual current account data and find that the model explains a small but significant fraction of capital flows between OECD countries,...

Persistent link: https://www.econbiz.de/10001801345

How capital flows affect economy-wide vulnerability and inequality : flow-of-funds analysis of selected Asian economies

Azis, Iwan J.; Yarcia, Damaris Lee - 2014

In contrast to the situation that preceded the 1997-1998 Asian financial crisis, Asia today is a region with excess savings where corporate savings dominate. In the mid-2000s, the extent of liquidity was further amplified by massive capital flows, particularly bank-led flows. The flows were...

Persistent link: https://www.econbiz.de/10011281406

International capital flows, external assets and output volatility

Hoffmann, Mathias; Krause, Michael; Tillmann, Peter - 2014

This paper proposes a new perspective on international capital flows and countries' long-run external asset position. Cross-sectional evidence for 84 developing countries shows that over the last three decades countries that have had on average higher volatility of output growth (1) accumulated...

Persistent link: https://www.econbiz.de/10010386570

International capital flows, external assets and output volatility

Hoffmann, Mathias; Krause, Michael; Tillmann, Peter - 2014

Persistent link: https://www.econbiz.de/10010433418

Global Imbalances and the Paradox of Thrift

Corden, W. Max - 2011

need for borrowers to pay interest (or dividends) and eventually to be able to repay. Thus savings must lead to investment …, or unwise (“unfruitful”) investment, such as excessive housing construction, the result will be a crisis. In this way the … to fruitful investment in other countries, both in the United States and in developing countries. Hence a crisis was …

Persistent link: https://www.econbiz.de/10013121877

What is Driving Global Imbalances? The Global Savings Glut Hypothesis Reexamined

Ryou, Jai-Won - 2017

In the middle of the global financial crisis, global imbalances seem to have been resolved to some extent, but it remains to be seen whether these imbalances will emerge again along with economic recovery. In order to cope with this global issue, we need to clarify what caused global imbalances...

Persistent link: https://www.econbiz.de/10012942726

How Capital Flows in the Midst of Excess Savings Affect Macrofinancial Vulnerability

Azis, Iwan J. - 2015

In contrast to the period prior to the 1997/98 Asian financial crisis, emerging East Asia today is a region with excess savings, particularly corporate savings. Beginning in the mid-2000s, liquidity was further amplified by massive capital flows, particularly bank-led flows, and subsequently by...

Persistent link: https://www.econbiz.de/10013011588

Global Liquidity, World Savings Glut and Global Policy Coordination

Belke, Ansgar Hubertus - 2010

The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...

Persistent link: https://www.econbiz.de/10013144334

Retained earnings, foreign portfolio ownership, and the German current account : a firm-level approach

Goldbach, Stefan; Harms, Philipp; Jochem, Axel; Nitsch, … - 2024

In some countries, a sizable fraction of savings is derived from corporate savings. Although larger, traded corporations are often co-owned by foreign portfolio investors, current international accounting standards allocate all corporate savings to the host country. This paper suggests a...

Persistent link: https://www.econbiz.de/10014548481

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 everywhere. In the short run, a country with a...

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