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The majority of general equilibrium models of international portfolio holdings differ substantially in their modeling procedures but typically feature a term that captures the relationship between real exchange rate changes and relative, i.e. home vs. foreign, equity market returns. However,...
Persistent link: https://www.econbiz.de/10010489904
nominal goods prices. Contrary to previous literature, the interdependence of this choice with an optimal portfolio choice of …
Persistent link: https://www.econbiz.de/10010486033
In this paper, we attempt to show why the importance of relational goods compared to conventional goods and status … goods threatens to decline in contemporary societies. In our point of view, the development of the relative significance of … these three types of goods is not a consequence of preference changes but of significant alterations in the opportunity …
Persistent link: https://www.econbiz.de/10009356432
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We study the role of competition for the hold-up problem in foreign direct investment in resource-based industries. The host country government is not only unable to commit not to expropriate investment ex post, but is also unable to commit to the provision of local resources. In the case of...
Persistent link: https://www.econbiz.de/10010483889
model. In contrast, government spending on public goods is always procyclical. The results implied by the theoretical model …
Persistent link: https://www.econbiz.de/10010341002
The New Keynesian DSGE literature has come to the consensus that, from the perspective of business cycle stabilization, countries are worse off in terms of welfare by forming a monetary union. This consensus, however, is based on the assumption of monetary policy being optimal. Using a standard...
Persistent link: https://www.econbiz.de/10010342841
On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium "New Paradigms in Money and Finance?". All the papers in the present SUERF Study are based on...
Persistent link: https://www.econbiz.de/10011711450
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