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Equity Home Bias in a Capital Market Union
I study the social efficiency and aggregate effects of equity home bias using a general equilibrium model with nominal rigidities and a fixed exchange rate. I find that the source of home bias is key for analyzing the wedge between equilibrium and socially optimal levels of home bias. Surprisingly,...
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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Palgrave Macmillan UK
2023
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9976695/ http://dx.doi.org/10.1057/s41308-023-00197-9 |