Risk Factors in Equilibrium Models of Open Economies

DOI: 10.20542/0131-2227-2010-9-23-28

D. Kuz’min, Russian Union of Industialists and Entrepreneurs, 17, Kotel’nicheskaya Nab., Moscow, 109240, Russian Federation (kouzminedv@rspp.ru

Abstract. World liquidity crisis, which started in the USA in 2007, is reputed to be the first full-fledged global financial crisis. The liquidity crisis became global exactly due to the influence of large economies' national financial markets on many small ones. The analysis of the crisis expansion and development in these states (the USA, China, Iceland, Mexico, CEE countries) demonstrated that not only working accounts and reserves, but also foreign and internal borrowings, and therefore, household consumption, investments and government consumption proved to be affected by cyclic processes. 

Keywords: world liquidity crisis, open economy, equilibrium model, risk factors, monetary policy, USA, China, Iceland, CEE countries

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For citation:
Kuz'min D. Risk Factors in Equilibrium Models of Open Economies. World Eonomy and International Relations, 2010, No 9, pp. 23-28. https://doi.org/10.20542/0131-2227-2010-9-23-28

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