Browsing FAS Scholarly Articles by Author "Caballero, Ricardo J."

Now showing items 1-3 of 3

    • An Equilibrium Model of "Global Imbalances" and Low Interest Rates 

      Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, Pierre-Olivier (American Economic Association, 2008)
      Three of the most important recent facts in global macroeconomics — the sustained rise in the US current account deficit, the stubborn decline in long run real rates, and the rise in the share of US assets in global ...

    • Financial Crash, Commodity Prices, and Global Imbalances 

      Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, Pierre-Oliver (Brookings Institution, 2008)
      The current financial crisis has its origins in global asset scarcity, which led to large capital flows toward the United States and to the creation of asset bubbles that eventually burst. In its first phase the crash ...

    • Trade and Capital Flows: A Financial Frictions Perspective 

      Caballero, Ricardo J.; Antras, Pol (National Bureau of Economic Research, 2007)
      The classical Heckscher-Ohlin-Mundell paradigm states that trade and capital mobility are substitutes, in the sense that trade integration reduces the incentives for capital to flow to capital-scarce countries. In this ...