position through the valuation channel of external adjustment, namely capital gains and losses on the country's external assets … and liabilities. We examine this valuation channel theoretically in a dynamic equilibrium portfolio model with … quantities in the definition of net foreign assets, we can characterize the first-order dynamics of both valuation effects and …

position through the "valuation channel" of external adjustment, namely capital gains and losses on the country's external … assets and liabilities. We examine this valuation channel theoretically in a dynamic equilibrium portfolio model with … quantities in the definition of net foreign assets, we can characterize the first-order dynamics of both valuation effects and …

position through the “valuation channel” of external adjustment, namely capital gains and losses on the country’s external … assets and liabilities. We examine this valuation channel theoretically in a dynamic equilibrium portfolio model with … quantities in the definition of net foreign assets, we can characterize the first-order dynamics of both valuation effects and …

government budget balance for five countries of the Euro area's Mezzogiorno, namely Greece, Ireland, Italy, Portugal, and Spain …