We present a model in which investors observe the same macroeconomic data but have varying levels of information about the parameters that determine the distribution of the expected returns on investment. During a crisis that increases macroeconomic uncertainty and reduces asset prices, the...

We present a model in which investors observe the same macroeconomic data but have varying levels of information about the parameters that determine the distribution of the expected returns on investment. During a crisis that increases macroeconomic uncertainty and reduces asset prices, the...

I present new evidence that gross foreign assets and liabilities in equity investments, measured at market value, are positively correlated over the business cycle in each of the Group of Seven industrialized countries (G7). The close comovement of assets and liabilities, in turn, reflects...

Um Informationen über den Internationalisierungsstand der sächsischenWirtschaft zu gewinnen, führte das Institut für Mittelstandsforschung Bonnvon Oktober 2000 bis Juni 2001 im Auftrag des Sächsischen Ministeriumsfür Wirtschaft und Arbeit in Kooperation mit der TU Bergakademie Freibergeine...