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Asset class diversification and delegation of responsibilities between central banks and sovereign wealth funds
Aizenman, Joshua; Glick, Reuven - 2010
This paper presents a model comparing the optimal degree of asset class diversification abroad by a central bank and a sovereign wealth fund. We show that if the central bank manages its foreign asset holdings in order to meet balance of payments needs, particularly in reducing the probability...
Persistent link: https://www.econbiz.de/10010333067
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Sovereign wealth funds: Stylized facts about their determinants and governance
Aizenman, Joshua; Glick, Reuven - 2008
large hoarding of international reserves. It analyzes the degree to which measures of SWF governance and transparency … governance, but weak democratic institutions, as compared to other nonindustrial countries. We also present a model with which we …
Persistent link: https://www.econbiz.de/10010285299
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Asset class diversification and delegation of responsibilities between central banks and sovereign wealth funds
Aizenman, Joshua; Glick, Reuven - 2010
This paper presents a model comparing the optimal degree of asset class diversification abroad by a central bank and a sovereign wealth fund. We show that if the central bank manages its foreign asset holdings in order to meet balance of payments needs, particularly in reducing the probability...
Persistent link: https://www.econbiz.de/10010287783
Cover Image
Sovereign wealth funds: Stylized facts about their determinants and governance
Aizenman, Joshua; Glick, Reuven - 2008
large hoarding of international reserves. It analyzes the degree to which measures of SWF governance and transparency … governance, but weak democratic institutions, as compared to other nonindustrial countries. We also present a model with which we …
Persistent link: https://www.econbiz.de/10010288138