A Tractable Model of Precautionary Reserves, Net Foreign Assets, or Sovereign Wealth Funds
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We model the motives for residents of a country to hold foreign assets, including the precautionary motive that has been omitted from much previous literature as intractable. Our model captures many of the principal insights from the existing specialized literature on the precautionary motive,
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美国国家经济研究局创建时间：
2009-08-01
