Will subprime be a twin crisis for the United States?

Will subprime be a twin crisis for the United ...
Dooley, Michael P., Dooley, Mi ...
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Last edited by MARC Bot
December 22, 2020 | History

Will subprime be a twin crisis for the United States?

"We identify incentives generated by the Bretton Woods II system that may have contributed to the sub-prime liquidity crisis now working its way through the international monetary system. We then evaluate the persistent conjecture that the liquidity crisis is or will become a balance of payments crisis for the United States. Given that it happens, the additional costs associated with a sudden stop of net capital flows to the United States could be quite substantial. But we observe that emerging market governments have continued to acquire US assets even as yields have fallen, and the incentives for continuing to do so remain strong. Moreover, the Bretton Woods II system, which has clearly been the most resilient of the forces driving current markets, continues to generate low real interest rates in industrial countries and growth in emerging markets that will help limit the damage from the liquidity crisis"--National Bureau of Economic Research web site.

Publish Date
Language
English

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Edition Availability
Cover of: Will subprime be a twin crisis for the United States?
Will subprime be a twin crisis for the United States?
2008, National Bureau of Economic Research
Electronic resource in English

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Book Details


Edition Notes

Title from PDF file as viewed on 7/9/2008.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.

Published in
Cambridge, MA
Series
NBER working paper series -- working paper 13978, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13978.

Classifications

Library of Congress
HB1

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL17087812M
LCCN
2008610823

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History

Download catalog record: RDF / JSON / OPDS | Wikipedia citation
December 22, 2020 Edited by MARC Bot import existing book
July 31, 2012 Edited by VacuumBot Updated format '[electronic resource] /' to 'Electronic resource'
December 15, 2009 Edited by WorkBot link works
October 28, 2008 Edited by ImportBot Found a matching Library of Congress MARC record
September 27, 2008 Created by ImportBot Imported from Library of Congress MARC record