Caballero, Ricardo J. <br/><br/>
Financial Crash, Commodity Prices and Global Imbalances / 
Ricardo J. Caballero, Emmanuel Farhi, Pierre-Olivier Gourinchas. 
 - Cambridge, Mass.  National Bureau of Economic Research  2008. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w14521 .
 - Working Paper Series (National Bureau of Economic Research)  no. w14521. .
<br/><br/> December 2008. 
<br/><br/> In this paper we argue that the persistent global imbalances, the subprime crisis, and the volatile oil and asset prices that followed it, are tightly interconnected. They all stem from a global environment where sound and liquid financial assets are in scarce supply. 
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