International Home Bias In International Finance And Business Cycles PDF Download
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| Author | : Karen K. Lewis |
| Publisher | : |
| Total Pages | : 80 |
| Release | : 1998 |
| Genre | : Business cycles |
| ISBN | : |
Download International Home Bias in International Finance and Business Cycles Book in PDF, ePub and Kindle
Domestic investors hold a substantially larger proportion of their wealth portfolios in domestic assets than standard portfolio theory would suggest. This phenomenon has been called equity home bias. In the absence of this home bias, investors would optimally diversify away domestic output risk. Therefore, in a world without investor home bias, consumption growth rates would tend to comove across countries even when output growth rates do not. Empirically, however, consumption growth rates tend to have a lower correlation across countries than do output growth rates. Moreover, consumption growth in each country appears to be highly correlated with its own output growth relative to the world. This phenomenon may be called consumption home bias. In this paper, I evaluate existing explanations for these two types of home bias.
| Author | : Kavous Ardalan |
| Publisher | : Routledge |
| Total Pages | : 230 |
| Release | : 2019-05-17 |
| Genre | : Business & Economics |
| ISBN | : 1000001431 |
Download Equity Home Bias in International Finance Book in PDF, ePub and Kindle
This book provides a comprehensive and critical analysis of research outcomes on the equity home bias puzzle – that people overinvest in domestic stocks relative to the theoretically optimal investment portfolio. It introduces place attachment – the bonding that occurs between individuals and their meaningful environments – as a new explanation for equity home bias, and presents a philosophically multi-paradigmatic view of place attachment. For the first time, a comprehensive and up-to-date review of the extant literature is provided, demonstrating that place attachment is a contributing factor to 22 different topics in which variations of home bias are present. The author also analyses the social-psychological underpinnings of place attachment, and considers the effect of multi-culturalism on the future of equity home bias. The book’s unique approach discusses the issues in conceptual terms rather than through data and statistical methods. This multi- and inter-disciplinary book is an invaluable resource for graduate students and researchers interested in economics, finance, philosophy, and/or methodology, introducing them to a new line of research.
| Author | : Colin Gilligan |
| Publisher | : Routledge |
| Total Pages | : 0 |
| Release | : 2019-06-17 |
| Genre | : Business & Economics |
| ISBN | : 9780415004404 |
Download Equity Home Bias in International Finance Book in PDF, ePub and Kindle
This book provides a comprehensive and critical analysis of research outcomes on the equity home bias puzzle. It introduces "place attachment" as a new explanation for the "equity home bias" puzzle and looks to the future of place attachment and its effect on home bias. For the first time, a comprehensive and up-to-date review of the extant literature is provided. The author presents a philosophically multi-paradigmatic view of "place attachment" - the bonding that occurs between individuals and their meaningful environments. Offering an overview of the literature on 22 different topics in which variations of "home bias" are present, the author demonstrates that place attachment is a contributing factor to all of these. Finally, the author analyses the social-psychological underpinnings of Place Attachment and considers the effect of multi-culturalism on the future of Equity Home Bias. The book's unique approach discusses the issues in conceptual terms, rather than using data and statistical methods. This book is both multi-disciplinary and inter-disciplinary, and therefore, it is an invaluable resource for graduate students and researchers who are interested in economics, finance, philosophy, and/or methodology, introducing them to a new line of research.
| Author | : Shouyang Wang |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 260 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642559344 |
Download Portfolio Selection and Asset Pricing Book in PDF, ePub and Kindle
In our daily life, almost every family owns a portfolio of assets. This portfolio could contain real assets such as a car, or a house, as well as financial assets such as stocks, bonds or futures. Portfolio theory deals with how to form a satisfied portfolio among an enormous number of assets. Originally proposed by H. Markowtiz in 1952, the mean-variance methodology for portfolio optimization has been central to the research activities in this area and has served as a basis for the development of modem financial theory during the past four decades. Follow-on work with this approach has born much fruit for this field of study. Among all those research fruits, the most important is the capital asset pricing model (CAPM) proposed by Sharpe in 1964. This model greatly simplifies the input for portfolio selection and makes the mean-variance methodology into a practical application. Consequently, lots of models were proposed to price the capital assets. In this book, some of the most important progresses in portfolio theory are surveyed and a few new models for portfolio selection are presented. Models for asset pricing are illustrated and the empirical tests of CAPM for China's stock markets are made. The first chapter surveys ideas and principles of modeling the investment decision process of economic agents. It starts with the Markowitz criteria of formulating return and risk as mean and variance and then looks into other related criteria which are based on probability assumptions on future prices of securities.
| Author | : Noble Ellsworth |
| Publisher | : Willford Press |
| Total Pages | : 0 |
| Release | : 2023-09-26 |
| Genre | : Business & Economics |
| ISBN | : 9781647284947 |
Download Financial Portfolios and Business Cycle Convergence: An International Comparative Study Book in PDF, ePub and Kindle
A financial portfolio refers to the collection of financial assets owned by an investor or an organization. Government and corporate bonds, alternative assets, common stocks, and cash and cash equivalents are examples of these assets. Investors may have a single financial portfolio or a number of portfolios each with a particular purpose, depending on their investment goals. A business cycle is a series of downward and upward changes in the level of economic activity. Business cycle convergence (BCC) is one of the most important criteria in the process of monetary integration to create an optimal currency area. The importance of private investment for BCC is largely explained by the phenomenon of home bias and portfolio theory. This book is a compilation of chapters that discuss the most vital concepts and emerging trends in financial portfolios and business cycle convergence. It will serve as a valuable source of reference for graduate and postgraduate students. The topics included in this book on financial portfolios and business cycle convergence are of utmost significance and bound to provide incredible insights to readers.
| Author | : Ben Bernanke |
| Publisher | : Mit Press |
| Total Pages | : 418 |
| Release | : 2001-02-19 |
| Genre | : Macroeconomics |
| ISBN | : 9780262025034 |
Download NBER Macroeconomics Annual 2000 Book in PDF, ePub and Kindle
The NBER Macroeconomics Annual presents, extends, and applies pioneering work in macroeconomics and stimulates work by macroeconomists on important policy issues. Each paper in the Annual is followed by comments and discussion.
| Author | : Laurent Ferrara |
| Publisher | : Springer |
| Total Pages | : 300 |
| Release | : 2018-06-13 |
| Genre | : Business & Economics |
| ISBN | : 3319790757 |
Download International Macroeconomics in the Wake of the Global Financial Crisis Book in PDF, ePub and Kindle
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 94 |
| Release | : 2021-05-20 |
| Genre | : |
| ISBN | : 9264852395 |
Download OECD Sovereign Borrowing Outlook 2021 Book in PDF, ePub and Kindle
This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
| Author | : Gregory D. Hess |
| Publisher | : Cambridge University Press |
| Total Pages | : 342 |
| Release | : 2000-09-11 |
| Genre | : Business & Economics |
| ISBN | : 9780521661638 |
Download Intranational Macroeconomics Book in PDF, ePub and Kindle
This book brings the intranational macroeconomics literature into clearer focus by collecting the strands of research into a common thread.
| Author | : Mr.Stijn Claessens |
| Publisher | : International Monetary Fund |
| Total Pages | : 66 |
| Release | : 2013-01-30 |
| Genre | : Business & Economics |
| ISBN | : 1475561008 |
Download Financial Crises Explanations, Types, and Implications Book in PDF, ePub and Kindle
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
