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Selected Works of Robert C. Shelburne
Unpublished Paper
Global Imbalances, Reserve Accumulation and Global Aggregate Demand when the International Reserve Currencies Are in a Liquidity Trap and Debt Constrained
(2013)
  • Robert C. Shelburne, United Nations Economic Commission for Europe
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Abstract
Discusses the implications of large current account surpluses and deficits when the international reserve currencies are in a liquidity trap and debt constrained. Concludes that current account surpluses are quite detrimental as they drain aggregate demand from the global economy.
Keywords
  • global imbalances,
  • global aggregate demand,
  • liquidity trap
Disciplines
Publication Date
Summer 2013
Citation Information
Robert C. Shelburne. "Global Imbalances, Reserve Accumulation and Global Aggregate Demand when the International Reserve Currencies Are in a Liquidity Trap and Debt Constrained" (2013)
Available at: http://works.bepress.com/robert_shelburne/79/