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A structural analysis of the U.S. financial economy

Author

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  • Tsujimura, Masako
  • Tsujimura, Kazusuke

Abstract

The Flow-of-Funds Accounts of the Unites States have been published on a quarterly basis since 1945 up to the present time. In this paper, we will construct ‘sector×sector’ Stone and Klein-formula asset-liability matrices fully exploiting the huge accumulation of data. It allows us to trace the changes in the roles of the institutional sectors over the years by application of useful input-output analytical tools, such as triangulation and dispersion indices. Although there is not too much change in the characteristics of non- financial sectors, the roles of financial institutions have been changing as the financial market develops and the deregulation advances.

Suggested Citation

  • Tsujimura, Masako & Tsujimura, Kazusuke, 2019. "A structural analysis of the U.S. financial economy," IDE Discussion Papers 749, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    • Handle: RePEc:jet:dpaper:dpaper749
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    More about this item

    Keywords

    flow-of-funds accounts; asset-liability matrices; financial net worth; triangulation; dispersion indices; Finance;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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