Journal Article
Liquidity shocks, real interest rates, and global imbalances
Abstract: The author uses a simple neoclassical model to show how liquidity shocks at home and abroad can contribute to trade imbalances and low real interest rates. The author?s interpretation is consistent with Bernanke?s (2005) ?global saving glut? hypothesis.
Keywords: International trade; Liquidity (Economics); Interest rates;
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Authors
Bibliographic Information
Provider: Federal Reserve Bank of St. Louis
Part of Series: Review
Publication Date: 2012
Volume: 94
Issue: May
Pages: 187-196