NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Financial Crash, Commodity Prices and Global Imbalances

Ricardo J. Caballero, Emmanuel Farhi, Pierre-Olivier Gourinchas

NBER Working Paper No. 14521
Issued in December 2008
NBER Program(s):   EFG   IFM

In this paper we argue that the persistent global imbalances, the subprime crisis, and the volatile oil and asset prices that followed it, are tightly interconnected. They all stem from a global environment where sound and liquid financial assets are in scarce supply.

download in pdf format
   (1313 K)

email paper

This paper is available as PDF (1313 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w14521

Published: Financial Crash, Commodity Prices, and Global Imbalances Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas Brookings Papers on Economic Activity , Vol. 2008, (Fall, 2008) , pp. 1-55

Users who downloaded this paper also downloaded these:
Frankel w12713 The Effect of Monetary Policy on Real Commodity Prices
Caballero, Farhi, and Gourinchas w11996 An Equilibrium Model of "Global Imbalances" and Low Interest Rates
Mendoza, Quadrini, and RĂ­os-Rull w12909 Financial Integration, Financial Deepness and Global Imbalances
Reinhart and Rogoff w14656 The Aftermath of Financial Crises
Taylor w14631 The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us