Country Portfolio Dynamics

Michael B. Devereux () and Alan Sutherland ()

No 6208, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper presents a general approximation method for characterizing time-varying equilibrium portfolios in a two-country dynamic general equilibrium model. The method can be easily adapted to most dynamic general equilibrium models, it applies to environments in which markets are complete or incomplete, and it can be used for models of any dimension. Moreover, the approximation provides simple, easily interpretable closed form solutions for the dynamics of equilibrium portfolios.

Keywords: country portfolios; solution methods (search for similar items in EconPapers)
JEL-codes: E52 E58 F41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-dge and nep-mac
Date: 2007-03
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Working Paper: Country Portfolio Dynamics (2007)
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