External Imbalances and Financial Crises:
Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in excessive...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
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Schriftenreihe: | IMF Working Papers
Working Paper No. 13/260 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in excessive credit booms. We can use the lens of macroeconomic and financial history to confront these dueling hypotheses with evidence. The credit boom explanation is the most plausible predictor of crises since the late nineteenth century; global imbalances have only a weak correlation with financial distress compared to indicators drawn from the financial system itself |
Beschreibung: | 1 Online-Ressource (18 p) |
ISBN: | 1484322266 9781484322260 |
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spelling | Taylor, Alan Verfasser aut External Imbalances and Financial Crises Taylor, Alan Washington, D.C International Monetary Fund 2013 1 Online-Ressource (18 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/260 Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in excessive credit booms. We can use the lens of macroeconomic and financial history to confront these dueling hypotheses with evidence. The credit boom explanation is the most plausible predictor of crises since the late nineteenth century; global imbalances have only a weak correlation with financial distress compared to indicators drawn from the financial system itself Online-Ausg http://elibrary.imf.org/view/IMF001/20996-9781484322260/20996-9781484322260/20996-9781484322260.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Taylor, Alan External Imbalances and Financial Crises |
title | External Imbalances and Financial Crises |
title_auth | External Imbalances and Financial Crises |
title_exact_search | External Imbalances and Financial Crises |
title_exact_search_txtP | External Imbalances and Financial Crises |
title_full | External Imbalances and Financial Crises Taylor, Alan |
title_fullStr | External Imbalances and Financial Crises Taylor, Alan |
title_full_unstemmed | External Imbalances and Financial Crises Taylor, Alan |
title_short | External Imbalances and Financial Crises |
title_sort | external imbalances and financial crises |
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