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Asset Bubbles and Global Imbalances, No. 20-01

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Asset Bubbles and Global Imbalances, No. 20-01

DATE: January 2020

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ABSTRACT: What caused the housing boom and bust of the early 2000s? Capital inflows from emerging markets to developed economies can contribute to the formation of bubbles in asset prices. Those bubbles encourage the accumulation of debt, and the deleveraging of that debt exacerbates the decline in economic activity when the bubble bursts.

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Ikeda, Daisuke , Phan, Toan , Sablik, Timothy and Federal Reserve Bank of Richmond. "Asset Bubbles and Global Imbalances, No. 20-01," Economic Brief (January 2020). https://fraser.stlouisfed.org/title/6034/item/585093, accessed on November 30, 2023.

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