| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19917 |
| 来源ID | Working Paper 19917 |
| Foreign Ownership of U.S. Safe Assets: Good or Bad? | |
| Jack Favilukis; Sydney C. Ludvigson; Stijn Van Nieuwerburgh | |
| 发表日期 | 2014-02-20 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | The last 20 years have been marked by a sharp rise in international demand for U.S. reserve assets, or safe stores-of-value. What are the welfare consequences to U.S. households of these trends, or of a reversal? In a lifecycle model with aggregate and idiosyncratic risks, the young and oldest households may benefit substantially from such capital inflows, but middle-aged savers may suffer from greater exposure to systematic risk in equity and housing markets. Under the veil of ignorance, a newborn in the lowest wealth quantile is willing to forego 2.7% of lifetime consumption to avoid a large capital outflow. |
| 主题 | Financial Economics ; Financial Markets ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w19917 |
| 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/577591 |
| 推荐引用方式 GB/T 7714 | Jack Favilukis,Sydney C. Ludvigson,Stijn Van Nieuwerburgh. Foreign Ownership of U.S. Safe Assets: Good or Bad?. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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