Unpublished Paper
Global Imbalances, Reserve Accumulation and Global Aggregate Demand when the International Reserve Currencies Are in a Liquidity Trap and Debt Constrained
(2013)
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/