dor_id: 4147481

506.#.#.a: Público

590.#.#.d: Los artículos enviados a la revista "Investigación Económica", se juzgan por medio de un proceso de revisión por pares

510.0.#.a: Consejo Nacional de Ciencia y Tecnología (CONACyT); Sistema Regional de Información en Línea para Revistas Científicas de América Latina, el Caribe, España y Portugal (Latindex); Scientific Electronic Library Online (SciELO); SCOPUS, Web Of Science (WoS)

561.#.#.u: http://www.economia.unam.mx/

650.#.4.x: Ciencias Sociales y Económicas

336.#.#.b: article

336.#.#.3: Artículo de Investigación

336.#.#.a: Artículo

351.#.#.6: https://www.revistas.unam.mx/index.php/rie

351.#.#.b: Investigación Económica

351.#.#.a: Artículos

harvesting_group: RevistasUNAM

270.1.#.p: Revistas UNAM. Dirección General de Publicaciones y Fomento Editorial, UNAM en revistas@unam.mx

590.#.#.c: Open Journal Systems (OJS)

270.#.#.d: MX

270.1.#.d: México

590.#.#.b: Concentrador

883.#.#.u: https://revistas.unam.mx/catalogo/

883.#.#.a: Revistas UNAM

590.#.#.a: Coordinación de Difusión Cultural

883.#.#.1: https://www.publicaciones.unam.mx/

883.#.#.q: Dirección General de Publicaciones y Fomento Editorial

850.#.#.a: Universidad Nacional Autónoma de México

856.4.0.u: https://www.revistas.unam.mx/index.php/rie/article/view/86133/75549

100.1.#.a: Hudson, Michael

524.#.#.a: Hudson, Michael (2023). THE U.S. FINANCIAL QUANDARY: ZIRP’S ONLY EXIT PATH IS A CRASH. Investigación Económica; Vol. 82 Núm. 325, 2023; 3-20. Recuperado de https://repositorio.unam.mx/contenidos/4147481

245.1.0.a: THE U.S. FINANCIAL QUANDARY: ZIRP’S ONLY EXIT PATH IS A CRASH

502.#.#.c: Universidad Nacional Autónoma de México

561.1.#.a: Facultad de Economía, UNAM

264.#.0.c: 2023

264.#.1.c: 2023-07-20

653.#.#.a: Central Banks and their policies; financial crisis; financial economics; financial markets; Central Banks and their policies; financial crisis; financial economics; financial markets

506.1.#.a: La titularidad de los derechos patrimoniales de esta obra pertenece a las instituciones editoras. Su uso se rige por una licencia Creative Commons BY-NC-ND 4.0 Internacional, https://creativecommons.org/licenses/by-nc-nd/4.0/legalcode.es, para un uso diferente consultar al responsable jurídico del repositorio por medio del correo electrónico iph@unam.mx

884.#.#.k: https://www.revistas.unam.mx/index.php/rie/article/view/86133

001.#.#.#: 071.oai:ojs.pkp.sfu.ca:article/86133

041.#.7.h: eng

520.3.#.a: Interest-bearing debt grows exponentially, in an upsweep. The non-financial economy of production and consumption grows more slowly as income is diverted to carry the debt overhead. A crash occurs when a large part of the economy cannot pay its scheduled debt service. That point arrived for the U.S. economy in 2008, but was minimized by a bank bailout, followed by a 14-year boom as the Federal Reserve increased bank liquidity by its Zero Interest-Rate Policy (ZIRP). Flooding the capital markets with easy credit quintupled stock prices and engendered the largest bond market boom in U.S. history, but did not revive tangible capital investment, real wages or prosperity for the non-financial economy at large. Reversing the ZIRP in 2022 caused bond prices to fall and ended the run up of stock market and real estate prices. The great 14-year debt increase faced sharply rising interest charges, and by spring 2023 a number of banks failed, but all their depositors were bailed out by the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve. The open question is now whether the U.S. economy will face the financial crash that was postponed from 2009 onwards by the vast expansion of debt under ZIRP that has added to the economy’s debt burden.

773.1.#.t: Investigación Económica; Vol. 82 Núm. 325 (2023); 3-20

773.1.#.o: https://www.revistas.unam.mx/index.php/rie

022.#.#.a: ISSN electrónico: 2594-2360; ISSN impreso: 0185-1667

310.#.#.a: Trimestral

300.#.#.a: Páginas: 3-20

264.#.1.b: Facultad de Economía, UNAM

doi: https://doi.org/10.22201/fe.01851667p.2023.325.86133

harvesting_date: 2023-10-03 16:10:00.0

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245.1.0.b: THE U.S. FINANCIAL QUANDARY: ZIRP’S ONLY EXIT PATH IS A CRASH

last_modified: 2023-10-03 16:10:00

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