Evolving Roles Of Sovereign Wealth Managers After The Financial Crisis: Past, Present And Future

Consider These Phenomena: Savers At Surplus Countries Are Often Penalized By Astronomical Consumer Prices, While Spenders At Debtor Countries Enjoy Bargain Basement Prices; Silicon Valley Continues To Be The Global Leader In R&d And Innovation Despite Chaos In Public Finance; And; Surplus Countries Worry About Holding Potentially Worthless Ious Issued By Elected Debtor Governments. In This Book, Professor Lee Has Tried To Better Understand Sovereign Wealth Management In The Context Of Saver And Debtor Countries, By Presenting A Unified Model That Can Explain These Observed Phenomena. His Attempt Is A Clear Departure From Traditional Theories, In Which These Observations Would Be Considered Aberrations From Standard Assumptions. Although No Model Is Perfect, This New Framework Can Be Useful To Explain Why, For Example, It Will Be Bad Economic News For All If Saver Countries Use Their Public Surpluses To Hoard Food And Fuel. This Accessible Book Is Built From A Scholarly Paper Presented By Professor Lee At The Venerable Annual Meeting Of The American Economic Association.