MARC Record from Library of Congress

LEADER: 01939cam a22003137a 4500
001 2009655570
003 DLC
005 20090515084924.0
007 cr |||||||||||
008 090508s2009 dcu sb i000 0 eng
010 $a 2009655570
040 $aDLC$cDLC
050 00 $aHG3881.5.W57
100 1 $aDidier, Tatiana.
245 14 $aThe current account as a dynamic portfolio choice problem$h[electronic resource] /$cTatiana Didier, Alexandre Lowenkron.
260 $a[Washington, D.C. :$bWorld Bank,$c2009]
490 1 $aPolicy research working paper ;$v4861
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 5/8/2009.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"The current account can be understood as the outcome of investment decisions made by domestic and foreign investors. These decisions can be decomposed into a portfolio rebalancing and a portfolio growth component. This paper provides empirical evidence of the importance of portfolio rebalancing for the dynamics of the current account. The authors evaluate the predictions of a partial-equilibrium model of the current account with dynamic portfolio choices, in which portfolio rebalancing is driven by changes in investment opportunities. Using data for the United States and Japan, the authors find evidence supporting innovations in investment opportunities as an important mechanism to explain international capital flows. "--World Bank web site.
650 0 $aPortfolio management.
650 0 $aBalance of payments.
700 1 $aLowenkron, Alexandre.
710 2 $aWorld Bank.
830 0 $aPolicy research working papers (Online) ;$v4861.
856 40 $uhttp://econ.worldbank.org/external/default/main?pagePK=64165259&theSitePK=469372&piPK=64165421&menuPK=64166093&entityID=000158349_20090309115148