A Theory of Gross and Net Capital Flows over the Global Financial Cycle
收藏NBER2022-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w30738
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资源简介：
We develop a theory to account for changes in gross and net capital flows over the global financial cycle (GFC). The theory relies critically on portfolio heterogeneity among investors within and across countries, related to risky portfolio shares and portfolio shares allocated to foreign assets. A
提供机构：
美国国家经济研究局
创建时间：
2022-12-01
