A caricature (model) of the world economy
This paper provides an extremely stylized model of the workings of a global economy where one of its key driving factors is economic agents’ continuous struggle to find assets to park financial resources. This struggle naturally comes with euphoria and disappointments as many of the 'parking lo...
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Banco Central de Chile
2019
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oai-20.500.12580-38232021-04-24T11:09:59Z A caricature (model) of the world economy Caballero, Ricardo J. ECONOMÍA COMPETENCIA ECONÓMICA INTERNACIONAL This paper provides an extremely stylized model of the workings of a global economy where one of its key driving factors is economic agents’ continuous struggle to find assets to park financial resources. This struggle naturally comes with euphoria and disappointments as many of the 'parking lots' are built too quickly are not of the desired size or suddenly collapse. There are also global asymmetries as some countries are endowed with more empty 'land' than others and their growth potential may also differ. I use this caricature of the world economy to describe several of the main driving forces behind recent global macroeconomic events and to discuss suitable economic policy. I also make a series of conjectures about some of the uncertainties and trends that may emerge in the near future. 2019-11-01T00:07:02Z 2019-11-01T00:07:02Z 2015 Artículo 978-956-7421-48-0 https://hdl.handle.net/20.500.12580/3823 eng Series on Central Banking Analysis and Economic Policies no. 21 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 61-77 application/pdf Banco Central de Chile |
| institution |
Banco Central |
| collection |
Banco Central |
| language |
eng |
| topic |
ECONOMÍA COMPETENCIA ECONÓMICA INTERNACIONAL |
| spellingShingle |
ECONOMÍA COMPETENCIA ECONÓMICA INTERNACIONAL Caballero, Ricardo J. A caricature (model) of the world economy |
| description |
This paper provides an extremely stylized model of the workings of a global economy where one of its key driving factors is economic agents’ continuous struggle to find assets to park financial resources. This struggle naturally comes with euphoria and disappointments as many of the 'parking lots' are built too quickly are not of the desired size or suddenly collapse. There are also global asymmetries as some countries are endowed with more empty 'land' than others and their growth potential may also differ. I use this caricature of the world economy to describe several of the main driving forces behind recent global macroeconomic events and to discuss suitable economic policy. I also make a series of conjectures about some of the uncertainties and trends that may emerge in the near future. |
| format |
Artículo |
| author |
Caballero, Ricardo J. |
| author_facet |
Caballero, Ricardo J. |
| author_sort |
Caballero, Ricardo J. |
| title |
A caricature (model) of the world economy |
| title_short |
A caricature (model) of the world economy |
| title_full |
A caricature (model) of the world economy |
| title_fullStr |
A caricature (model) of the world economy |
| title_full_unstemmed |
A caricature (model) of the world economy |
| title_sort |
caricature (model) of the world economy |
| publisher |
Banco Central de Chile |
| publishDate |
2019 |
| url |
https://hdl.handle.net/20.500.12580/3823 |
| work_keys_str_mv |
AT caballeroricardoj acaricaturemodeloftheworldeconomy AT caballeroricardoj caricaturemodeloftheworldeconomy |
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1718346723966844928 |