Pasquale Della Corte, Steven Riddiough, Lucio Sarno, 29 February 2016

The world’s savings and investments are imbalanced. While some countries persistently borrow over time, others act like bankers to the world – lending year in and year out. This column argues that these imbalances matter for asset pricing in financial markets, and are key to understanding excess returns in currency markets.


CEPR Policy Research