Home Bias in Open Economy Financial Macroeconomics

Home bias is a perennial feature of international capital markets. We review various explanations of this puzzling phenomenon highlighting recent developments in macroeconomic modeling that incorporate international portfolio choices in standard two-country general equilibrium models. We refer to th...

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Veröffentlicht in:	Journal of economic literature 2013-03, Vol.51 (1), p.63-115
Hauptverfasser:	Coeurdacier, Nicolas, Rey, Hélène
Format:	Artikel
Sprache:	eng
Schlagworte:	Bias Business cycles Capital assets Capital markets Economic models Economic theory Economics and Finance Equilibrium Equity Financial investments Financial portfolios Foreign exchange rates Foreign investment Globalization Hedging Home equity Humanities and Social Sciences Investment risk Investors Macroeconomic modeling Macroeconomics Portfolio investments Real exchange rates Risk sharing Terms of trade
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