Microscopic Analysis on the Deepening of Subprime Mortgage Crisis and Global Economic Imbalances--Based on the Perspective of the Financial Accelerator

摘要：

　　Within the framework of a dynamic macroeconomic model, this paper explains the mechanism about deepening of subprime crisis and global economic imbalances from the micro perspective using the financial accelerator theol.Several rounds of amplification impact of the financial accelerator among financial sector, production sector and consumption sector, and re-allocation of production resources due to the differences of sectors balance sheet structure both lead to further deepening subprime crisis.The structural differences exist in the financial sector, production sector, consumer sector and the foreign trade sector among countries; it forms national differences in the financial accelerator effects which lead to a widening gap in growth of national macreeconomic and balance of payments, and then world economic imbalances deepen.

关键词： subprime crisis financial accelerator world economy imbalances

作者: He Chengying Yu kaijiang Yang Gaoyu

作者单位: Department of Strategic Research, Guo Sen Security

会议类型: 国际会议

会议名称: The 4th Conference on Chinas Economic Operation Risk Management(2010·Shanghai)(第四届中国立信风险管理论坛)

会议地点: 上海

会议语种:英文

页码: 61-69

在线出版日期: 2010-10-14（万方平台首次上网日期，不代表论文的发表时间）