The Valuation Channel of External Adjustment.
International financial integration has greatly increased the scope for changes in a country's net foreign asset position through the valuation channel, namely capital gains and losses on external assets and liabilities. We examine this valuation channel in a dynamic equilibrium portfolio model...
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| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington :
International Monetary Fund,
2009
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| Series: | IMF Working Papers.
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| Subjects: | |
| Local Note: | ProQuest Ebook Central |
MARC
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| 100 | 1 | |a Lee, Jaewoo. | |
| 245 | 1 | 4 | |a The Valuation Channel of External Adjustment. |
| 260 | |a Washington : |b International Monetary Fund, |c 2009. | ||
| 300 | |a 1 online resource (70 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Papers ; |v v. Working Paper No. 09/275 | |
| 505 | 0 | |a Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. The Model; A. Households and Governments; B. Firms; C. Some Useful Properties; D. The Steady-State Portfolio and the Role of Labor Supply Elasticity; III. The Anatomy of Portfolio Adjustment and Valuation; A. First-Order Portfolio Adjustment and Valuation; B. Valuation, Portfolio Adjustment, and Macroconomic Dynamics; IV. The Valuation Channel at Work; A. Calibration; B.A Productivity Shock; 1. Impulse Responses, Productivity Shock; 2. Comparison of Valuation Measures, Productivity Shock. | |
| 505 | 8 | |a 3. Valuation, the Current Account, and Risk Sharing, Productivity ShockC. A Government Spending Shock; 4. Impulse Responses, Government Spending Shock; 5. Valuation, the Current Account, and Risk Sharing, Government Spending Shock; V. Conclusion; References; Footnotes. | |
| 520 | |a International financial integration has greatly increased the scope for changes in a country's net foreign asset position through the valuation channel, namely capital gains and losses on external assets and liabilities. We examine this valuation channel in a dynamic equilibrium portfolio model with international trade in equity. By separating asset prices and quantities, we can characterize the first-order dynamics of valuation effects and the current account in macroeconomic dynamics. Specifically, we disentangle the roles of excess returns, capital gains, and portfolio adjustment for consum. | ||
| 588 | 0 | |a Print version record. | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Valuation. | |
| 650 | 0 | |a Productivity accounting. | |
| 650 | 0 | |a Evaluation. | |
| 650 | 7 | |a appraisals (financial records) |2 aat | |
| 700 | 1 | |a Ghironi, Fabio. | |
| 700 | 1 | |a Rebucci, Alessandro. | |
| 758 | |i has work: |a The valuation channel of external adjustment (Text) |1 https://id.oclc.org/worldcat/entity/E39PCG3cqhJxfk8vgmVFVc7DYP |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
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| 830 | 0 | |a IMF Working Papers. | |
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