Discussion of "Global Imbalances and the Financial Crisis: Products of Common Causes, by M. Obstfeld and K. Rogoff"
One of the main global economic concerns before the financial crisis was the presence of large "global imbalances," which refer to the massive and persistent current account deficits experienced by the U.S. and financed by the periphery. This concern was intellectually grounded on the deva...
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| Format: | Article |
| Language: | English |
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Federal Reserve Bank of San Francisco,
2011-06-24T22:40:47Z.
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| Online Access: | Get fulltext |