Omslagsbild

European Business Cycle Convergence Portfolio Similarity and a Declining Home Bias of Private Investors

Visa andra versioner (1)

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....

Full beskrivning

Sparad:
Bibliografiska uppgifter
Huvudskapare: Schneider, Jennifer (auth)
Materialtyp: Elektronisk Bokavsnitt
Språk:engelska
Publicerad: Bern Peter Lang International Academic Publishers 2013
Serie:Hohenheimer volkswirtschaftliche Schriften 69
Ämnen:
Economic theory & philosophy
Behavioural economics
Business & management
Bias
Business
Consumption-Wealth-Linkage
Convergence
Cycle
Declining
European
Home
International Asset Pricing Model
Investors
Panel Methods
Portfolio
Portfolio Choice
Private
Schneider
Similarity
Länkar:OAPEN Library: download the publication
OAPEN Library: description of the publication
Taggar: Lägg till en tagg
Inga taggar, Lägg till första taggen!
Beskrivning
Sammanfattning: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.
Fysisk beskrivning:1 electronic resource (218 p.)
ISBN:978-3-653-01915-5
9783653019155
Tillgång:Open Access

Liknande verk