A Portfolio Approach to Global Imbalances
收藏NBER2022-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w30253
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资源简介：
We use a portfolio-based framework to understand what drives the decline of the U.S. net foreign asset (NFA) position and the reversal in returns earned on the US NFA (exorbitant privilege). We show that global savings gluts and monetary policies widened the U.S. NFA position, while investor demand
提供机构：
美国国家经济研究局
创建时间：
2022-07-01
