| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9729 |
| DP9729 The Effects of the Saving and Banking Glut on the U.S. Economy | |
| Andrea Tambalotti; Giorgio Primiceri; Alejandro Justiniano | |
| 发表日期 | 2013-11-10 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Abstract. 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 U.S. house prices and household debt that preceded the financial crisis. The key to these findings is that the model generates the sustained low level of interest rates observed over that period. |
| 主题 | International Macroeconomics |
| 关键词 | Capital flows Collateral constraints Global imbalances House prices Household debt |
| URL | https://cepr.org/publications/dp9729 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538565 |
| 推荐引用方式 GB/T 7714 | Andrea Tambalotti,Giorgio Primiceri,Alejandro Justiniano. DP9729 The Effects of the Saving and Banking Glut on the U.S. Economy. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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