| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2122 |
| DP2122 Inefficient Redistribution | |
| Daron Acemoğlu; James Robinson | |
| 发表日期 | 1999-04-26 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | We explore some empirical properties of gross international investment positions. In order to provide income-smoothing, net investment income should negatively covary with GDP. Moreover, to maximize stabilization of GNP in the face of GDP fluctuations, the yield on foreign assets should move countercyclically and the yield on foreign liabilities procyclically. In both time-series and panel settings, we reject these hypotheses,suggesting that positive gross international investment positions are not associated with income-smoothing at business-cycle frequencies. |
| 主题 | International Macroeconomics |
| 关键词 | Asset trade Income-smoothing International investment income flows International investment positions |
| URL | https://cepr.org/publications/dp2122 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531236 |
| 推荐引用方式 GB/T 7714 | Daron Acemoğlu,James Robinson. DP2122 Inefficient Redistribution. 1999. |
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