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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

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