Capital accumulation with tangible assets
نویسندگان
چکیده
منابع مشابه
International Portfolios, Capital Accumulation and Foreign Asset Dynamics International Portfolios, Capital Accumulation and Foreign Assets Dynamics
Despite the liberalization of capital ows among OECD countries, equity home bias remains sizable. We depart from the two familiar explanations of equity home bias: transaction costs that impede international diversi cation, and terms of trade responses to supply shocks that provide risk sharing, so that there is little incentive to hold diversi ed portfolios. We show that the following ingredi...
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ژورنال
عنوان ژورنال: Journal of Economic Behavior & Organization
سال: 2008
ISSN: 0167-2681
DOI: 10.1016/j.jebo.2008.04.005