Fogli, Alessandra; Perri, Fabrizio - Federal Reserve Bank of Minneapolis - 2015
Does macroeconomic volatility/uncertainty affect accumulation of net foreign assets? In OECD economies over the period … 1970-2012, changes in country specific aggregate volatility are, after controlling for a wide array of factors …, significantly positively associated with net foreign asset position. An increase in volatility (measured as the standard deviation …