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The global financial crisis: Causes and consequences

McKibbin, Warwick; Stoeckel, Andrew

Description

This paper models the global financial crisis as a combination of shocks to global housing markets and sharp increases in risk premia of firms, households, and international investors; and finds that the shocks observed in financial markets can generate in the in the G-Cubed model (an intertemporal global model) the severe economic contraction in global trade and production currently being experienced in 2009. Our investigation shows that the distinction between the production and trade of...[Show more]

CollectionsANU Research Publications
Date published: 2010
Type: Journal article
URI: http://hdl.handle.net/1885/50117
Source: Asian Economic Papers
DOI: 10.1162/asep.2010.9.1.54

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