Global Imbalances and Financial Fragility
Global Imbalances and Financial Fragility
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Author / Creator
Publisher
Nashville: American Economic Association
Journal title
Language
English
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Publication information
Publisher
Nashville: American Economic Association
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Scope and Contents
Contents
This paper presents a model to show how global imbalances has driven the US securitization boom and bust. Since flows into the US have been predominantly seeking safe debt, US financial institutions, in producing the safe debt, have been left holding a levered claim on local mortgage risks. Thus, this analysis ties together the behavior of leverage...
Alternative Titles
Full title
Global Imbalances and Financial Fragility
Authors, Artists and Contributors
Author / Creator
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TN_cdi_proquest_journals_857212037
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_857212037
Other Identifiers
ISSN
0002-8282
E-ISSN
1944-7981
DOI
10.1257/aer.99.2.584
