European Business Cycle Convergence: Portfolio Similarity and a Declining Home Bias of Private Investors
Author:   Jennifer Schneider
Publisher:   Peter Lang AG
Edition:   New edition
Volume:   69
ISBN:  

9783631639740


Pages:   224
Publication Date:   27 March 2013
Format:   Hardback
Availability:   Out of stock   Availability explained
The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available.

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


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Overview

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.

Full Product Details

Author:   Jennifer Schneider
Publisher:   Peter Lang AG
Imprint:   Peter Lang AG
Edition:   New edition
Volume:   69
Dimensions:   Width: 14.80cm , Height: 1.80cm , Length: 21.00cm
Weight:   0.390kg
ISBN:  

9783631639740


ISBN 10:   3631639740
Pages:   224
Publication Date:   27 March 2013
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Out of stock   Availability explained
The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available.

Table of Contents

Contents: Business Cycle Convergence and Consumption – Portfolio Theory – Home Bias: Status quo in Europe – Similarity of Portfolios – Consumption and Business Cycle Correlation – Empirical Model – Political Implications.

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Author Information

Jennifer Schneider studied from 2001 to 2005 Economics at the University of Hohenheim and achieved her doctorate in 2011. Since 2005 she works in the field of risk management for banks.

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