This dissertation comprises three chapters in international macroeconomics with particular focus on the determinants of international capital flows. In particular, the work focuses on country heterogeneity in productivity, its dynamic path and demography as determinants of international capital...

Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment...