Autore
Bertocco, Giancarlo

Titolo
Global Saving Glut and Housing Bubble: A Critical Analysis
Periodico
Economia politica
Anno: 2014 - Fascicolo: 2 - Pagina iniziale: 195 - Pagina finale: 218

This paper examines the explanation of the "subprime" crisis provided by Bernanke according to which the origin of the housing bubble stemmed from the global saving glut that occurred in the decade 1996-2006. The paper has two objectives. First, it highlights the limits of Bernanke's thesis. Second, it shows that a meaningful explanation of the crisis has to be grounded on the "monetary theory of production" proposed by Keynes to explain how a monetary economy works.



SICI: 1120-2890(2014)2<195:GSGAHB>2.0.ZU;2-Y
Testo completo: http://www.rivisteweb.it/download/article/10.1428/77437
Testo completo alternativo: http://www.rivisteweb.it/doi/10.1428/77437

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