Globalization, Gluts, Innovation or Irrationality : What Explains the Easy Financing of the U.S. Current Account Deficit? /
This paper examines the roles of U.S. financial innovation, financial globalization, and the savings glut hypothesis in explaining the rise in U.S. external debt, first in a portfolio balance model, and then empirically. Perhaps surprisingly, financial deepening and falling home bias in industrializ...
| Príomhchruthaitheoir: | |
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| Rannpháirtithe: | , |
| Formáid: | IRIS |
| Teanga: | English |
| Foilsithe / Cruthaithe: |
Washington, D.C. :
International Monetary Fund,
2007.
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| Sraith: | IMF Working Papers; Working Paper ;
No. 2007/160 |
| Rochtain ar líne: | Full text available on IMF |