An Analysis Of The Influence Degree Of Subprime Mortgage Crisis In The United States

Although the outbreak of the subprime crisis in the United States has been going on for more than a decade,people are still deeply impressed by the global economic impact of the US subprime mortgage crisis.The subprime mortgage crisis can spread the crisis from one country to another through the use of trade as the carrier's real economy channel,which has a huge negative impact on the economy of other countries.In this context,it is particularly important to study the impact of the US subprime mortgage crisis on other countries.It is a relatively novel angle to study the impact of the subprime mortgage crisis on other countries through input-output theory.Input-output theory allows us to analyze the impact of the subprime mortgage crisis from the perspective of the global economy.This will allow us to have a more comprehensive understanding and understanding of the external impact of the subprime mortgage crisis.The complete consumption coefficient in the input-output theory can reflect the effect of full spread between industries.Using this coefficient will reflect the change in U.S.import demand caused by the subprime crisis on the demand caused by other countries' industries,thus indicating that the subprime mortgage crisis affects other countries.Industrial impact.This paper first calculates the direct consumption coefficient matrix and the complete consumption coefficient matrix from the international input-output tables from 2008 to 2014,and then uses the complete consumption coefficient matrix and the US final demand matrix for other countries to obtain the induced demand matrix of other major countries in the world.Then calculate the relative change in the percentage of demand caused by the value,and finally by observing and comparing the size of the value of each year to illustrate the impact of the subprime mortgage crisis on a country's different industries.This article mainly analyzes the impact of the subprime crisis on manufacturing in four developed countries and four developing countries,and concludes that the subprime mortgage crisis has a largeinitial impact on the technology-intensive manufacturing industries of developed countries,but with the As time passes,the degree of influence can be rapidly weakened;the subprime mortgage crisis has a greater impact on labor-intensive manufacturing and resource-based industries in developing countries,and can be recovered later,with technology-intensive industries being affected by the subprime mortgage crisis.The degree of influence cannot be continuously weakened.The focus of this paper's research is China.The most prominent point in China's industry is the financial industry and the real estate industry.They are affected by the sub-prime crisis and lag behind other sectors.