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Home Bias in Open Economy Financial Macroeconomics
Coeurdacier, Nicolas - 2011
investment …
Persistent link: https://www.econbiz.de/10012460966
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Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
Ohanian, Lee E. - 2015
Since 1950, the economies of East Asia grew rapidly but received little inter-national capital, while Latin America … flows. We develop a DSGE model of Asia, Latin America, and the Rest ofthe World that features an open-economy business cycle …
Persistent link: https://www.econbiz.de/10012456926
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Social Finance
Kuchler, Theresa - 2020
We review an empirical literature that studies the role of social interactions in driving economic and financial decision making. We first summarize recent work that documents an important role of social interactions in explaining household decisions in housing and mortgage markets. This...
Persistent link: https://www.econbiz.de/10012482193
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Unexploited gains from international diversification : patterns of portfolio holdings around the world
Didier, Tatiana - 2011
"This paper studies how portfolios with a global investment scope are actually allocated internationally using a unique … the investment scope of funds broadens. This restrictive investment practice has costs. A mean-variance strategy shows … family (company). This investment pattern is not explained by lack of information or instruments, transaction costs, or a …
Persistent link: https://www.econbiz.de/10011394818
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Differences of Opinion and International Equity Markets
Dumas, Bernard - 2011
We develop an international financial market model in which domestic and foreign residents differ in their beliefs about the information content in public signals. We determine how informational advantages by domestic investors in the interpretation of home public signals impact equity markets....
Persistent link: https://www.econbiz.de/10012461904
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Unexploited Gains from International Diversification : Patterns of Portfolio Holdings Around the World
Didier, Tatiana - 2010
This paper studies how portfolios with a global investment scope are actually allocated internationally using a unique … the investment scope of funds broadens. This restrictive investment practice has costs. A mean-variance strategy shows … family (company). This investment pattern is not explained by lack of information or instruments, transaction costs, or a …
Persistent link: https://www.econbiz.de/10012462028
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The "Other" Imbalance and the Financial Crisis
Caballero, Ricardo J. - 2010
One of the main economic villains before the crisis was the presence of large "global imbalances." The concern was that the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep recession. However, when the crisis finally did come, the...
Persistent link: https://www.econbiz.de/10012463014
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Decomposing the U.S. External Returns Differential
Curcuru, Stephanie E. - 2009
We decompose the returns differential between U.S. portfolio claims and liabilities into the composition, return, and timing effects. Our most striking and robust finding is that foreigners exhibit poor timing when reallocating between bonds and equities within their U.S. portfolios. The poor...
Persistent link: https://www.econbiz.de/10012463572
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Country Portfolios in Open Economy Macro Models
Devereux, Michael B. - 2008
This paper develops a simple approximation method for computing equilibrium portfolios in dynamic general equilibrium open economy macro models. The method is widely applicable, simple to implement, and gives analytical solutions for equilibrium portfolio positions in any combination or types of...
Persistent link: https://www.econbiz.de/10012464274
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Cross-Border Returns Differentials
Curcuru, Stephanie E. - 2008
well as direct investment and banking), we find that previous estimates of large differentials are biased upward. The bias … cumulated current account deficits, the net international investment position, and the net income balance. Overall, we find no …
Persistent link: https://www.econbiz.de/10012464878