Productivity shocks, stabilization policies and the dynamics of net foreign assets

Valuation Effects and the Dynamics of Net External Assets∗

The traditional current account can be an inaccurate measure of the change in the net foreign asset (NFA) position. Using gross asset and liability positions at the country level, a number of 'valuation effects' have been identified which contribute to changes in NFA but do not enter the reported current account. This paper uses new developments in the analysis of portfolio allocation in genera...

International Portfolios, Capital Accumulation and Foreign Asset Dynamics International Portfolios, Capital Accumulation and Foreign Assets Dynamics

Despite the liberalization of capital ‡ows among OECD countries, equity home bias remains sizable. We depart from the two familiar explanations of equity home bias: transaction costs that impede international diversi…cation, and terms of trade responses to supply shocks that provide risk sharing, so that there is little incentive to hold diversi…ed portfolios. We show that the following ingredi...

the study of bright and surface discrete cavity solitons dynamics in saturable nonlinear media

امروزه سالیتون ها بعنوان امواج جایگزیده ای که تحت شرایط خاص بدون تغییر شکل در محیط منتشر می-شوند، زمینه مطالعات گسترده ای در حوزه اپتیک غیرخطی هستند. در این راستا توجه به پدیده پراش گسسته، که بعنوان عامل پهن شدگی باریکه نوری در آرایه ای از موجبرهای جفت شده، ظاهر می گردد، ضروری است، زیرا سالیتون های گسسته از خنثی شدن پراش گسسته در این سیستم ها بوسیله عوامل غیرخطی بوجود می آیند. گسستگی سیستم عامل...

Politics, Policies and the Dynamics of Aggregate Productivity in Colombia

critical period effects in foreign language learning:the influence of maturational state on the acquisition of reading,writing, and grammar in english as a foreign language

since the 1960s the age effects on learning both first and second language have been explored by many linguists and applied linguists (e.g lennerberg, 1967; schachter, 1996; long, 1990) and the existence of critical period for language acquisition was found to be a common ground of all these studies. in spite of some common findings, some issues about the impacts of age on acquiring a second or...