affected by the Net Foreign Assets Position (NFA) of the country. First, we find strong evidence for OECD countries that the …

desired net foreign asset position and the investment returns generated on the outstanding stock of net foreign assets …

framework that leads to empirically testable implications on the long-run co-movements of real exchange rates, net foreign … assets, relative GDP and terms of trade, and cross-country and time-series evidence on the subject. We show that on average …

long-run adjustment in the total stock of savings and net foreign assets. Copyright Kluwer Academic Publishers 1996 …

is shown that the expected (negative) equilibrium relationship between net foreign assets and the trade balance that had … component of cross-border assets and liabilities has made net foreign assets much harder to track, and may have introduced … flows are used in place of net foreign assets. This suggests that net exports do indeed adjust so as to maintain external …

Theory suggests a significant positive relationship in long-run equilibrium between net foreign assets (NFA) as a …