Ultra-loose monetary policies, such as very low or even negative interest rates, large-scale asset purchases, long-maturity lending to banks and forward guidance in central bank communication, aim to increase inflation and output, to the benefit of financial stability. But at the same time,...

Institutional investors, as professional parties, typically hold geographically diversified portfolios of marketable securities. In that way, institutional investors contribute to financial integration and risk sharing in Europe's Capital Markets Union and beyond. Assets managed by institutional...

Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete coverage because they consider only listed equities....