Corporate saving in global rebalancing

The increase in global imbalances in the last decade posed a theoretical challenge for international macroeconomics. Why did some less developed countries with a higher need for capital like China lend to richer countries? The inconsistency of standard dynamic open-economy models with actual global...

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Autores principales:	Bordo, Michael D., Landon-Lane, John
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	MACROECONOMÍA CRISIS FINANCIERA CRISIS ECONÓMICA 2008
Acceso en línea:	https://hdl.handle.net/20.500.12580/3894
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spelling	oai-20.500.12580-38942021-04-24T11:17:08Z Corporate saving in global rebalancing Bordo, Michael D. Landon-Lane, John MACROECONOMÍA CRISIS FINANCIERA CRISIS ECONÓMICA 2008 The increase in global imbalances in the last decade posed a theoretical challenge for international macroeconomics. Why did some less developed countries with a higher need for capital like China lend to richer countries? The inconsistency of standard dynamic open-economy models with actual global capital flows had already been recognized (for example by Lucas 1990) but the sensitivity to this issue became more acute with increasing global imbalances. This stimulated the development of several alternative theoretical frameworks. However global imbalances have declined since the global financial crisis. What light can the recent models shed on this global rebalancing? 2019-11-01T00:07:07Z 2019-11-01T00:07:07Z 2015 Artículo 978-956-7421-47-3 https://hdl.handle.net/20.500.12580/3894 eng Series on Central Banking Analysis and Economic Policies no. 20 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 79-103 application/pdf Banco Central de Chile
institution	Banco Mundial
collection	Banco Mundial
language	eng
topic	MACROECONOMÍA CRISIS FINANCIERA CRISIS ECONÓMICA 2008
spellingShingle	MACROECONOMÍA CRISIS FINANCIERA CRISIS ECONÓMICA 2008 Bordo, Michael D. Landon-Lane, John Corporate saving in global rebalancing
description	The increase in global imbalances in the last decade posed a theoretical challenge for international macroeconomics. Why did some less developed countries with a higher need for capital like China lend to richer countries? The inconsistency of standard dynamic open-economy models with actual global capital flows had already been recognized (for example by Lucas 1990) but the sensitivity to this issue became more acute with increasing global imbalances. This stimulated the development of several alternative theoretical frameworks. However global imbalances have declined since the global financial crisis. What light can the recent models shed on this global rebalancing?
format	Artículo
author	Bordo, Michael D. Landon-Lane, John
author_facet	Bordo, Michael D. Landon-Lane, John
author_sort	Bordo, Michael D.
title	Corporate saving in global rebalancing
title_short	Corporate saving in global rebalancing
title_full	Corporate saving in global rebalancing
title_fullStr	Corporate saving in global rebalancing
title_full_unstemmed	Corporate saving in global rebalancing
title_sort	corporate saving in global rebalancing
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3894
work_keys_str_mv	AT bordomichaeld corporatesavinginglobalrebalancing AT landonlanejohn corporatesavinginglobalrebalancing
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Corporate saving in global rebalancing

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