TY  - BOOK
AU  - Evans,Martin D.D.
ED  - International Monetary Fund.
TI  - International capital flows and debt dynamics
T2  - IMF working paper
SN  - 1475581211
AV  - HG3881.5.I58 W67 No. 12/175eb
U1  - 332.152 23
PY  - 2012///
CY  - [Washington, D.C.]
PB  - International Monetary Fund
KW  - Capital movements
KW  - Econometric models
KW  - United States
KW  - Debts, External
KW  - fast
KW  - BUSINESS & ECONOMICS / Finance
KW  - bisacsh
KW  - Electronic books
N1  - Title from PDF title page (IMF Web site, viewed Jul. 17, 2012); "Research."; "July 2012."; Includes bibliographical references
N2  - This paper presents a new model for studying international capital flows and debt dynamics that emphasizes the role played by expectations concerning future trade flows and returns. I use the model to estimate the drivers of the U.S. external position and capital flows between 1973 and 2008. The estimates show that most of the secular rise in U.S. international indebtedness is attributable to growing optimism about future returns on U.S. holdings of foreign equity and FDI assets. They also show that the transformation of world savings into risky assets by the U.S. had little effect on its external position, but the expected future real depreciation of the dollar allowed the U.S. to sustain a higher level of international debt after the 1990s
UR  - https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=568165
ER  -