| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6627 |
| DP6627 Corporate Governance Externalities | |
| Viral Acharya; Paolo Volpin | |
| 发表日期 | 2008-01-23 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | The deterioration in the U.S. net external position in recent years has been much smaller than the extensive net borrowing associated with large current account deficits would have suggested. This paper examines the sources of discrepancies between net borrowing and accumulation of net liabilities for the U.S. economy over the past 25 years. In particular, it highlights and quantifies the role played by net capital gains on the U.S. external portfolio and ?residual adjustments? in explaining this discrepancy. It discusses whether these ?residual adjustments? are likely to be originating from measurement errors in external assets and liabilities, financial flows, or capital gains, and explores the implications of these conjectures for the U.S. financial account and external position. |
| 主题 | International Macroeconomics |
| 关键词 | Current account External adjustment Net foreign asset position Financial integration Capital flows External assets and liabilities |
| URL | https://cepr.org/publications/dp6627 |
| 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/535491 |
| 推荐引用方式 GB/T 7714 | Viral Acharya,Paolo Volpin. DP6627 Corporate Governance Externalities. 2008. |
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