Country portfolio dynamics

被引：39
|
作者：
Devereux, Michael B. [1 ,2 ]
Sutherland, Alan [3 ,4 ]
机构：
[1] Univ British Columbia, CEPR, NBER, Vancouver, BC V6T 1Z1, Canada
[2] Univ British Columbia, Dept Econ, Vancouver, BC V6T 1Z1, Canada
[3] Univ St Andrews, CEPR, St Andrews KY16 9AL, Fife, Scotland
[4] Univ St Andrews, Sch Econ & Finance, St Andrews KY16 9AL, Fife, Scotland
来源：
JOURNAL OF ECONOMIC DYNAMICS & CONTROL | 2010年 / 34卷 / 07期
关键词：
Country portfolios; Solution methods; EQUILIBRIUM-MODELS; EXTERNAL WEALTH; FOREIGN-ASSETS; APPROXIMATION; LIABILITIES; NATIONS;
D O I：
10.1016/j.jedc.2010.03.008
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper presents a general approximation method for characterizing time-varying equilibrium portfolios in a two-country dynamic general equilibrium model. The method can be easily adapted to most dynamic general equilibrium models, it applies to environments in which markets are complete or incomplete, and it can be used for models of any dimension. Moreover, the approximation provides simple, easily interpretable closed-form solutions for the dynamics of equilibrium portfolios. (C) 2010 Elsevier B.V. All rights reserved.
引用
收藏
页码：1325 / 1342
页数：18
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