Vulnerabilities of the Global Economy

Carlos M. Peláez and Carlos A. Peláez

Chapter 5 in Globalization and the State: Volume II, 2008, pp 180-210 from Palgrave Macmillan

Abstract: Abstract The most critical vulnerability of the world economy is the possibility that housing events in the United States could create a broader credit contraction. Such an event or a similar shock could erode the perceived quality of US debt, causing disorderly exit out of dollar assets.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Central Bank; Euro Area (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-22829-0_6

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DOI: 10.1057/9780230228290_6

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