A Forensic Analysis of Global Imbalances
---- Acknowledgements ----
We thank Joe Gagnon for comments, Yothin Jinjarak and Joshua Aizenman for sharing the dataset on the housing indexes and Carmen Reinhart and Ken Rogoff for making the exchange rate regime index publicly available. Erica Clower, and Jacinta Bernadette Rico provided excellent research assistance.Ito thanks Portland State University for its financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.