Lindset, Snorre; Mork, Knut Anton - In: International Journal of Financial Studies : open … 7 (2019) 1/4, pp. 1-24
In an economy with a sovereign wealth fund (SWF), the government may draw on the fund to supplement other government revenues. If the fund is invested in risky assets, this introduces a new stochastic element into the government’s budget. We analyze the interaction between the draw from and...
