A caricature (model) of the world economy

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dc.contributor.authorCaballero, Ricardo J.
dc.date.accessioned2019-11-01T00:07:02Z
dc.date.available2019-11-01T00:07:02Z
dc.date.issued2015
dc.descriptionThis paper provides an extremely stylized model of the workings of a global economy where one of its key driving factors is economic agents’ continuous struggle to find assets to park financial resources. This struggle naturally comes with euphoria and disappointments as many of the 'parking lots' are built too quickly are not of the desired size or suddenly collapse. There are also global asymmetries as some countries are endowed with more empty 'land' than others and their growth potential may also differ. I use this caricature of the world economy to describe several of the main driving forces behind recent global macroeconomic events and to discuss suitable economic policy. I also make a series of conjectures about some of the uncertainties and trends that may emerge in the near future.
dc.file.nameBCCh-sbc-v21-p061_077
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 61-77
dc.identifier.isbn978-956-7421-48-0
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3823
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking Analysis and Economic Policies no. 21
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectECONOMÍAes_ES
dc.subjectCOMPETENCIA ECONÓMICA INTERNACIONALes_ES
dc.titleA caricature (model) of the world economy
dc.type.docArtículo

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