Home Bias in Portfolios and Taxation of Asset Income
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Intuitively, the observed 'home bias' in individual portfolios plausibly explains the international capital immobility in aggregate data reported by Feldstein and Horioka (1980) as well as the survival of taxes on capital income. These intuitions are examined explicitly in a model where random
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美国国家经济研究局创建时间:
2001-03-01



