| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15228 |
| 来源ID | Working Paper 15228 |
| A Tractable Model of Precautionary Reserves, Net Foreign Assets, or Sovereign Wealth Funds | |
| Christopher D. Carroll; Olivier Jeanne | |
| 发表日期 | 2009-08-13 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We 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. |
| 主题 | Microeconomics ; Mathematical Tools |
| URL | https://www.nber.org/papers/w15228 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572904 |
| 推荐引用方式 GB/T 7714 | Christopher D. Carroll,Olivier Jeanne. A Tractable Model of Precautionary Reserves, Net Foreign Assets, or Sovereign Wealth Funds. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15228.pdf（665KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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