Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/43247 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorCarroll, Christopher D.en
dc.contributor.authorJeanne, Olivieren
dc.date.accessioned2009-08-07-
dc.date.accessioned2010-12-15T09:22:29Z-
dc.date.available2010-12-15T09:22:29Z-
dc.date.issued2009-
dc.identifier.piurn:nbn:de:hebis:30-68346en
dc.identifier.urihttp://hdl.handle.net/10419/43247-
dc.description.abstractWe model the motives for residents of a country to hold foreign assets, including the precautionary motive that has been omitted from much previous literature as intractable. Our model captures many of the principal insights from the existing specialized literature on the precautionary motive, deriving a convenient formula for the economy's target value of assets. The target is the level of assets that balances impatience, prudence, risk, intertemporal substitution, and the rate of return. We use the model to shed light on two topical questions: The 'upstream' flows of capital from developing countries to advanced countries, and the long-run impact of resorbing global financial imbalances.en
dc.language.isoengen
dc.publisher|aGoethe University Frankfurt, Center for Financial Studies (CFS) |cFrankfurt a. M.en
dc.relation.ispartofseries|aCFS Working Paper |x2009/15en
dc.subject.jelC61en
dc.subject.ddc330en
dc.subject.keywordBuffer Stock Savingen
dc.subject.keywordNet Foreign Assetsen
dc.subject.keywordSovereign Wealth Fundsen
dc.subject.keywordForeign Exchange Reservesen
dc.subject.keywordSmall Open Economy Modelsen
dc.subject.stwSparenen
dc.subject.stwKassenhaltungsansatzen
dc.subject.stwAuslandsvermögenen
dc.subject.stwWährungsreservenen
dc.subject.stwStaatsfondsen
dc.subject.stwKleines-offenes-Landen
dc.subject.stwTheorieen
dc.subject.stwNord-Süd-Beziehungenen
dc.subject.stwKapitalmobilitäten
dc.subject.stwWelten
dc.titleA tractable model of precautionary reserves, net foreign assets, or sovereign wealth funds-
dc.typeWorking Paperen
dc.identifier.ppn606244395en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cfswop:200915en

Files in This Item:
File
Size
425.17 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.