; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Portfolio Autarky: A Welfare Analysis"; ; "batchuser@example.com"; "Wallace, Neil", "Kareken, John H."; "Federal Reserve Bank of Minneapolis"; "Portfolio autarky obtains when residents of every country are prohibited from owning real assets located in other countries. Such a regime and a laissez-faire regime, both characterized by free trade in goods, are studied in a model whose resource and technology assumptions are those of the standard two-country, two- (nonreproducible) factor, two- (nonstorable) good model. But to ensure a market for assets (land), the model is peopled by overlapping generations; each two-period lived individual supplies one unit of labor only in the first period of his life. Unique equilibria are described and shown to exist, and, in terms of a “growth model” version of the Pareto criterion, laissez-faire is shown to be optimal and portfolio autarky to be nonoptimal."^^; "1976-02"; "2019-10-22T05:10:22.804528476+00:00"^^; "https://doi.org/10.21034/sr.9"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Thu Nov 7 22:31:28 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "823", "389"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "009"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in: _Journal of International Economics_ (Vol. 7, No. 1, February 1977, pp. 19-43) https://doi.org/10.1016/0022-1996(77)90003-4."^^; ; "Publication" . ; .