On the Macroeconomics of Asset Shortages

  title={On the Macroeconomics of Asset Shortages},
  author={Benjamin Caballero},
The world has a shortage of financial assets. Asset supply is having a hard time keeping up with the global demand for store of value and collateral by households, corporations, governments, insurance companies, and financial intermediaries more broadly. These shortages have been a perennial problem in emerging markets, where many of their economic perils and idiosyncrasies stem from this feature. But we are now seeing a shortage on a global scale. It probably began with the meltdown of a… CONTINUE READING
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Publications referenced by this paper.
Showing 1-10 of 18 references

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R. J. Caballero, P.O.E. Farhi
MIT mimeo, June • 2006

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American Economic Review, • 2006

In ation target and sudden stops ”

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The Inflation Targeting Debate ed . by • 2005
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Inflation Target and Sudden Stops,” in The Inflation Targeting Debate ed by Ben Bernanke and Michael Woodford

R. J. Caballero, A. Krishnamurthy
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