인문학
사회과학
자연과학
공학
의약학
농수해양학
예술체육학
복합학
지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2011.6
- 수록면
- 249 - 265 (17page)
- DOI
- 10.18284/jss.2011.06.30.1.249
이용수
초록· 키워드
This paper investigates wether there was a systematic linkage between global imbalance and the subprime crisis by focusing on analysis of the Greenspan’s Conundrum hypothesis. First, I found that, before the subprime crisis, capital inflows from the countries recording current account surplus mainly caused the long-term Treasury bond rate to be maintained at low level. However, contrary to the Treasury bond rate, the short-term market interest rates sharply increased since 2004. The U.S. house prices was mainly affected by the market interest rates rather than by the long-term Treasury Bond rate because most of subprime lending were in the form of Adjustable-rate mortgages. It is also found that the market interest rates were substantially influenced by the Fed's monetary policy. Thus even though I partially admit the Greenspan’s Conundrum hypothesis in which the low long-term interest rate resulted in the U.S. asset bubbles, it could not be a significant cause of the subprime crisis.
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목차
- Ⅰ. 서론
- Ⅱ. 선행연구 검토
- Ⅲ. 미국의 이자율 변동과 국제자본이동
- Ⅳ. 실증적 고찰
- Ⅴ. 맺음말
- 참고문헌
- 〈Abstract〉
참고문헌
참고문헌 신청최근 본 자료
UCI(KEPA) : I410-ECN-0101-2013-305-000709967