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Global Footprint of US Fiscal Policy : = Essays in International Macro-Finance.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Global Footprint of US Fiscal Policy :/
Reminder of title:	Essays in International Macro-Finance.
Author:	Kim, Sun Yong.
Description:	1 online resource (244 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-11, Section: B.
Contained By:	Dissertations Abstracts International85-11B.
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9798382763286

Global Footprint of US Fiscal Policy : = Essays in International Macro-Finance.
Kim, Sun Yong.

Global Footprint of US Fiscal Policy :Essays in International Macro-Finance. - 1 online resource (244 pages)

Source: Dissertations Abstracts International, Volume: 85-11, Section: B.

Thesis (Ph.D.)--Northwestern University, 2024.

Includes bibliographical references

This dissertation explores the global ramifications of US fiscal policy. In particular, I tie the US fiscal condition to key puzzling phenomena in international finance, namely countercyclical dynamics in i) US wealth share, ii) the dollar exchange rate and iii) global risk premia. Chapter I focuses on the interaction between the US fiscal condition and i), ii), whereas chapter chapter I United States (US) is a relatively safe country: her global consumption and wealth shares are countercyclical. These findings are hard to square with the traditional view that the US is the global insurance provider. Given this challenge, I build a quantitative general equilibrium model where the US assumes the exact opposite role. At the heart of this twist is a fiscal asymmetry: the US has more fiscal capacity than other countries. Taking this as given the US emerges as the global insurance receiver, enabling my model to rationalise many key features of the modern global financial system. Key to these results is the interaction between the US fiscal condition, global innovation and growth, international risk-sharing, the dollar and global risk premia.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798382763286Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

International financeIndex Terms--Genre/Form:

554714
Electronic books.

Global Footprint of US Fiscal Policy : = Essays in International Macro-Finance.
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500 $a Advisor: Papanikolaou, Dimitris.
502 $a Thesis (Ph.D.)--Northwestern University, 2024.
504 $a Includes bibliographical references
520 $a This dissertation explores the global ramifications of US fiscal policy. In particular, I tie the US fiscal condition to key puzzling phenomena in international finance, namely countercyclical dynamics in i) US wealth share, ii) the dollar exchange rate and iii) global risk premia. Chapter I focuses on the interaction between the US fiscal condition and i), ii), whereas chapter chapter I United States (US) is a relatively safe country: her global consumption and wealth shares are countercyclical. These findings are hard to square with the traditional view that the US is the global insurance provider. Given this challenge, I build a quantitative general equilibrium model where the US assumes the exact opposite role. At the heart of this twist is a fiscal asymmetry: the US has more fiscal capacity than other countries. Taking this as given the US emerges as the global insurance receiver, enabling my model to rationalise many key features of the modern global financial system. Key to these results is the interaction between the US fiscal condition, global innovation and growth, international risk-sharing, the dollar and global risk premia.
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653 $a International risk-sharing
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