On the Macroeconomics of Asset Shortages

By Ricardo J. Caballero. 2006

228 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d7bf506052ed33eb01a8687ce9c5c60d4da84251

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Citations in the corpus

The 'Other' Imbalance and the Financial Crisis (2009, unknown): “…a large excess demand for financial assets more broadly (Bernanke 2007 and Caballero et al 2008b) which had as a main consequence (and still has) the recurrent emergence of bubbles (Caballero 2006 and Caballero et al 2008a), but this was not a source of systemic …”
Open market operations (2018, background): “There are now multiple DM constraints: bargaining implies (2) = +; feasibility implies  ≤  and  ≤ ; and (14)-(15) imply  ≤  with”
A Framework for Assessing Global Imbalances (2008, unknown): “Caballero et al. (2006) emphasise the importance of fi nancial imperfections for global imbalances.”
Asset Bubbles, Endogenous Growth, and Financial Frictions (2010, unknown): “B t +B L t = 0; (6) where P i2(Ht[Lt) y i t Yt is the aggregate output at date t.”
International Reserves in Emerging Market Countries: Too Much of a Good Thing? (2007, background): “Another alternative is the view that the high-growth developing countries are exporting their savings abroad because of a shortage of domestic assets for their residents to invest in (Caballero, 2006).”
The Safety Trap (2017, background): “First and most closely related is the literature that identifies the shortage of safe assets as key macroeconomic fact (see e.g. Caballero 2006 and 2010, Caballero and Krishnamurthy 2009, Bernanke et al 2011, Barclay’s 2012).”
The global credit boom: Challenges for macroeconomics and policy (2009, background): “A variant of the savings glut story is that of Caballero, Farhi and Gourinchas (2006) and Caballero (2006) in which the coexistence of global imbalances and low interest rates stems not from a savings glut so much as from a shortage of nancial assets.”
Liquidity and asset-market dynamics (2010, unknown): “Simplifying, we get t = (nt) nt (1 ) [u(y ) c(y )] + f(1): (13)”
The History and Economics of Safe Assets (2016, unknown): “Figure adapted with permission from Caballero & Farhi (2014a).”
Slapped in the Face by the Invisible Hand: Banking and the Panic of 2007 (2009, background): “Also, Caballero (2006) discusses the macroeconomic implications of a shortage of collateral.”
The Equilibrium Real Funds Rate: Past, Present, and Future (2016, background): “Caballero (2006) and others make a related argument that there is a “safe asset shortage” caused by a rapid growth in incomes and savings in emerging markets and a shortage of safe local saving vehicles due to undeveloped capital markets.”