Discussion of “Global Imbalances and the Financial Crisis: Products of Common Causes, by M. Obstfeld and K. Rogoff”
One of the main global economic concerns before the financial crisis was the presence of large “global imbalances,” which refer to the massive and persistent current account deficits experienced by the U.S. and financed by the periphery. This concern was intellectually grounded on the devastating...
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| Format: | Article |
| Language: | en_US |
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Federal Reserve Bank of San Francisco
2011
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| Online Access: | http://hdl.handle.net/1721.1/64675 https://orcid.org/0000-0003-2760-451X |