A global perspective on external positions
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Author
Contributions
- Milesi-Ferretti, Gian Maria. - Contributor
- National Bureau of Economic Research. - Contributor
Publication
2005 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts
Language
English
Word Count
10,500 words, Guess
Page Count
42 pages
Identifiers
- OCLC Control Number61836627
- Open LibraryOL17627887M
Description
"The paper highlights the increased dispersion in net external positions in recent years, particularly among industrial countries. It provides a simple accounting framework that disentangles the factors driving the accumulation of external assets and liabilities (such as trade imbalances, investment income flows, and capital gains) for major external creditors and debtors. It also examines the factors driving the foreign asset portfolio of international investors, with a special focus on the weight of U.S. liabilities in the rest of the world's stock of external assets. Finally, it relates the empirical evidence to the current debate about the roles of portfolio balance effects and exchange rate adjustment in shaping the external adjustment process"--National Bureau of Economic Research web site.
Subjects
Series Statement
- NBER working paper paper series -- no. 11589.
- Working paper series (National Bureau of Economic Research) -- working paper no. 11589.
Links
Other Editions
- A global perspective on external positions
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