A Caricature (Model) of the World Economy

A Caricature (Model) of the World Economy

This paper provides a stylized model of the workings of a global economy where one of its key driving factors is economic agents’ continuous struggle to find assets in which to park financial resources. This struggle naturally comes with euphoria and disappointments, as many of the "parking lot...

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Bibliographic Details
Main Author: Caballero, Ricardo
Format: Working Paper
Published: Cambridge, MA: Department of Economics, Massachusetts Institute of Technology 2012
Subjects:
Global equilibrium
shortage of assets
interest rates
asset prices
booms and busts
sovereign crises
financial reform and development
fiscal deficits
flights to quality
decoupling
quantitative easing
Online Access:http://hdl.handle.net/1721.1/71549

Internet

http://hdl.handle.net/1721.1/71549

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