On the Macroeconomics of Asset Shortages

@inproceedings{Caballero2006OnTM,
  title={On the Macroeconomics of Asset Shortages},
  author={Benjamin Caballero},
  year={2006}
}
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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References

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