European Business Cycle Convergence : Portfolio Similarity and a Declining Home Bias of Private Investors
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Book Details
Format
Hardback or Cased Book
Book Series
Hohenheimer Volkswirtschaftliche Schriften
ISBN-10
3631639740
ISBN-13
9783631639740
Edition
New
Publisher
Peter Lang AG
Imprint
Peter Lang AG
Country of Manufacture
DE
Country of Publication
GB
Publication Date
Mar 27th, 2013
Print length
224 Pages
Weight
400 grams
Dimensions
15.40 x 21.50 x 1.80 cms
Product Classification:
Economic theory & philosophyBehavioural economicsBusiness & management
Ksh 9,250.00
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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 portfolios.
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 portfolios. The idea is that financial portfolio choice has an impact on business cycles and contributes to convergence via the consumption-wealth linkage. The background of the analysis is the International Asset Pricing Model (IAPM). The results of fixed effects GMM TSLS estimations confirm the linkage. The effect is higher for country-pairs that are built by one euro area member and one member outside the euro area.
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