| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3138 |
| DP3138 Is the Allocation of Public Capital Across the Spanish Regions too Redistributive? | |
| Angel de la Fuente | |
| 发表日期 | 2002 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We examine the link between the net foreign asset position, the trade balance and the real exchange rate. In particular, we decompose the impact of a country?s net foreign asset position (?external wealth?) on its long-run real exchange rate into two mechanisms: the relation between external wealth and the trade balance; and, holding fixed other determinants, a negative relation between the trade balance and the real exchange rate. We also provide additional evidence that the relative price of nontradables is an important channel linking the trade balance and the real exchange rate. |
| 主题 | International Macroeconomics |
| 关键词 | Net foreign assets Trade balance Real exchange rate |
| URL | https://cepr.org/publications/dp3138 |
| 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/532159 |
| 推荐引用方式 GB/T 7714 | Angel de la Fuente. DP3138 Is the Allocation of Public Capital Across the Spanish Regions too Redistributive?. 2002. |
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