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The Financial Crisis and The Geography of Wealth Transfers / Pierre-Olivier Gourinchas, Hélène Rey, Kai Truempler.
- Format:
- Book
- Author/Creator:
- Gourinchas, Pierre-Olivier.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w17353.
- NBER working paper series no. w17353
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2011.
- Summary:
- This paper studies the geography of wealth transfers during the 2008 global financial crisis. We construct valuation changes on bilateral external positions in equity, direct investment and portfolio debt at the height of the crisis to map who benefited and who lost on their external exposure. We find a very diverse set of fortunes governed by the structure of countries' external portfolios. In particular, we are able to relate the gains and losses on debt portfolios to the country's exposure to ABCP conduits and the extent of dollar shortage.
- Notes:
- Print version record
- August 2011.
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