本文通过对净国外资产状况进行透视分析,考察美国、日本和德国的外部调节。本文提出两个问题:一、从长期看,什么是净国外资产均衡的决定因素?二、从短期看是哪些调节机制维持了净国外资产的均衡?分析战后的一些数据可以得出两点认识:一、动用共合体方法,可以辨别出长期净国外资产均衡的存在,它是人口统计变量和公债的函数,二、与长期均衡的偏离在三个国家通过国内吸收作用的不同组成成分上得到反馈。 This paper examines the external adjustment of the United States, Japan and Germany through a perspective analysis of the net foreign assets. This paper raises two questions: First, in the long run, what are the determinants of the balance of net foreign assets? Second, which regulatory mechanisms maintain the balance of net foreign assets in the short run? Analyzing some post-war data leads to two points Understanding: First, the use of the method of the Commonwealth, you can identify the existence of a long-term net foreign balance of assets, it is a function of demographic variables and public debt, Second, long-term equilibrium deviation in the three countries through the absorption of different components of the domestic Get feedback