Financial Crash, Commodity Prices and Global Imbalances

Ricardo J Caballero (), Emmanuel Farhi () and Pierre-Olivier Gourinchas ()

No 14521, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In this paper we argue that the persistent global imbalances, the subprime crisis, and the volatile oil and asset prices that followed it, are tightly interconnected. They all stem from a global environment where sound and liquid financial assets are in scarce supply.

JEL-codes: F3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-cba, nep-opm and nep-ure
Date: 2008-12
Note: EFG IFM
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Working Paper: Financial Crash, Commodity Prices and Global Imbalances (2008)
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