http://www.bis.org/cbhub/list/author/author_5816/index.rss Research hub papers by author Thomas Klitgaard en http://www.newyorkfed.org/research/current_issues/ci17-5.pdf New York Fed Current issues by Matthew Higgins and Thomas Klitgaard Saving Imbalances and the Euro Area Sovereign Debt Crisis 2011-09-15T17:40:00Z For several years prior to 2010, countries in the euro area periphery engaged in heavy borrowing from foreign private investors, allowing domestic spending to outpace incomes. Now these countries face debt crises reflecting a loss of investor confidence in the sustainability of their finances. The result has been an abrupt halt in private foreign lending to these economies. This study explains how the periphery countries became dependent on foreign borrowing and considers the challenges they face reigniting growth while adjusting to greatly reduced access to foreign capital. Saving Imbalances and the Euro Area Sovereign Debt Crisis 2011-09-15T17:40:00Z Abstract http://www.newyorkfed.org/research/current_issues/ci17-5.html Full text http://www.newyorkfed.org/research/current_issues/ci17-5.pdf Matthew Higgins Thomas Klitgaard Matthew Higgins and Thomas Klitgaard 2011-09-09 New York Fed Current issues http://www.newyorkfed.org/research/current_issues/ci13-11.pdf New York Fed Current issues by Matthew Higgins and Thomas Klitgaard Financial Globalization and the U.S. Current Account Deficit 2008-01-03T17:38:59Z Despite heavy borrowing in recent years, the United States has financed its large current account deficits without experiencing an unusual buildup in foreign investors’ holdings of U.S. assets. A new analysis suggests that this somewhat surprising development is attributable largely to rapid financial globalization, with cross-border flows worldwide rising as fast as flows into the United States. However, it could be harder for the country to sustain large deficits on favorable terms if the current wave of globalization subsided or the rate at which U.S. investors buy foreign assets increased._xyz_P>_xyz_TD>_xyz_TR> Financial Globalization and the U.S. Current Account Deficit 2008-01-03T17:38:59Z Abstract http://www.newyorkfed.org/research/current_issues/ci13-11.html Full text http://www.newyorkfed.org/research/current_issues/ci13-11.pdf Thomas Klitgaard Matthew Higgins Matthew Higgins and Thomas Klitgaard 2007-12 New York Fed Current issues F32 F36 http://www.newyorkfed.org/research/current_issues/ci12-9.pdf New York Fed Current issues by Matthew Higgins, Thomas Klitgaard, and Robert Lerman Recycling Petrodollars 2007-01-04T18:48:59Z Recycling Petrodollars 2007-01-04T18:48:59Z Abstract http://www.newyorkfed.org/research/current_issues/ci12-9.html Full text http://www.newyorkfed.org/research/current_issues/ci12-9.pdf Thomas Klitgaard Matthew Higgins Robert Lerman Matthew Higgins, Thomas Klitgaard, and Robert Lerman 2006-12 New York Fed Current issues F21 F32 F34 F41 http://www.newyorkfed.org/research/economists/klitgaard/index.html New York Fed Staff reports by Matthew Higgins, Thomas Klitgaard, and Cédric Tille Borrowing without Debt? Understanding the U.S. International Investment Position 2006-12-11T17:38:00Z Borrowing without Debt? Understanding the U.S. International Investment Position 2006-12-11T17:38:00Z Abstract http://www.newyorkfed.org/research/staff_reports/sr271.html Full text http://www.newyorkfed.org/research/economists/klitgaard/index.html Cédric Tille Thomas Klitgaard Matthew Higgins Matthew Higgins, Thomas Klitgaard, and Cédric Tille 2006-12 New York Fed Staff reports F32 F34 F36 F41 http://www.newyorkfed.org/research/current_issues/ci11-12.pdf New York Fed Current issues by Matthew Higgins, Thomas Klitgaard, and Cédric Tille The Income Implications of Rising U.S. International Liabilities 2006-01-12T17:20:00Z The Income Implications of Rising U.S. International Liabilities 2006-01-12T17:20:00Z Abstract http://www.newyorkfed.org/research/current_issues/ci11-12.html Full text http://www.newyorkfed.org/research/current_issues/ci11-12.pdf Cédric Tille Thomas Klitgaard Matthew Higgins Matthew Higgins, Thomas Klitgaard, and Cédric Tille 2005-12 New York Fed Current issues F32 F34 http://www.newyorkfed.org/research/current_issues/ci10-10.pdf New York Fed Current issues by Matthew Higgins and Thomas Klitgaard Reserve Accumulation: Implications for Global Capital Flows and Financial Markets 2004-10-28T17:32:59Z Reserve Accumulation: Implications for Global Capital Flows and Financial Markets 2004-10-28T17:32:59Z Abstract http://www.newyorkfed.org/research/current_issues/ci10-10.html Full text http://www.newyorkfed.org/research/current_issues/ci10-10.pdf Thomas Klitgaard Matthew Higgins Matthew Higgins and Thomas Klitgaard 10-09 New York Fed Current issues F32 F34 http://www.newyorkfed.org/research/epr/04v10n1/0405klit.pdf New York Fed Economic policy review by Thomas Klitgaard and Laura Weir Exchange Rate Changes and Net Positions of Speculators in the Futures Market 2004-06-01T12:00:00Z Exchange Rate Changes and Net Positions of Speculators in the Futures Market 2004-06-01T12:00:00Z Abstract http://www.newyorkfed.org/research/epr/04v10n1/0405klit.html Full text http://www.newyorkfed.org/research/epr/04v10n1/0405klit.pdf Laura Weir Thomas Klitgaard Thomas Klitgaard and Laura Weir 2004-05 New York Fed Economic policy review F31 G13 G15 http://www.newyorkfed.org/research/current_issues/ci8-2.pdf New York Fed Current issues by Erica L. Groshen and Thomas Klitgaard Live Long and Prosper: Challenges Ahead for an Aging Population 2004-04-01T12:00:00Z Live Long and Prosper: Challenges Ahead for an Aging Population 2004-04-01T12:00:00Z Abstract http://www.newyorkfed.org/research/current_issues/ci8-2.html Full text http://www.newyorkfed.org/research/current_issues/ci8-2.pdf Erica L. Groshen Thomas Klitgaard Erica L. Groshen and Thomas Klitgaard 2002-02 New York Fed Current issues E62 H55 J11