Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/29909 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorBelke, Ansgaren
dc.contributor.authorGros, Danielen
dc.date.accessioned2009-07-30-
dc.date.accessioned2010-02-12T15:07:42Z-
dc.date.available2010-02-12T15:07:42Z-
dc.date.issued2009-
dc.identifier.isbn978-3-86788-140-1en
dc.identifier.urihttp://hdl.handle.net/10419/29909-
dc.description.abstractThe purpose of this contribution is to illustrate the mechanism by which higher oil prices might lead to lower interest rates in the context of a simple model that takes into account the global external savings equilibrium. The simple model has interesting implications for how one views the huge US current account deficit and how the emergence of China's savings surplus and oil supply shocks impact the global economy.We show that the new equilibrium is located at a lower interest rate but also at a lower income level than without the China effect. Moreover, we argue that the lower real interest rates resulting from excess OPEC savings have facilitated the adjustment to the subprime crisis.en
dc.language.isoengen
dc.publisher|aRheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI) |cEssenen
dc.relation.ispartofseries|aRuhr Economic Papers |x128en
dc.subject.jelE21en
dc.subject.jelE43en
dc.subject.jelF32en
dc.subject.jelQ43en
dc.subject.ddc330en
dc.subject.keywordChina factoren
dc.subject.keywordcurrent account adjustmenten
dc.subject.keywordinterest rateen
dc.subject.keywordoil pricesen
dc.subject.keywordsaving gluten
dc.subject.stwErdölpreisen
dc.subject.stwZinsen
dc.subject.stwSparquoteen
dc.subject.stwLeistungsbilanzen
dc.subject.stwUSAen
dc.subject.stwChinaen
dc.titleA Simple Model of an Oil Based Global Savings Glut – The "China Factor" and the OPEC Cartel-
dc.typeWorking Paperen
dc.identifier.ppn605644985en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:rwirep:128en

Files in This Item:
File
Size
514.35 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.