Goods Trade and International Equity Portfolios
收藏NBER2007-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w13612
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We show that international trade in goods is the main determinant of international equity portfolios and offers a compelling -- theoretically and empirically -- resolution of the portfolio home bias puzzle. The model implies that investors can achieve full international risk diversification if the
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美国国家经济研究局创建时间：
2007-11-01
