The International Diversification Puzzle is Worse Than You Think

American Economic Review

Volumn 87, Issue 1, 1997, Pages 170-180

  Baxter, Marianne ^a   Jermann, Urban J ^b  

^a UNIVERSITY OF VIRGINIA   (United States)

^b UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

HUMAN CAPITAL;

EID: 0031396606     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (9)

1. Black, Fischer. Business cycles and equilibrium. Cambridge, MA: Blackwell, 1987.
2. Bottazi, Laura; Pesenti, Paolo and van Wincoop, Eric. "Wages, Profits, and the International Portfolio Puzzle." European Economic Review, February 1996, 40(2), pp. 219-54.
3. Campbell, John Y. "Understanding Risk and Return." Journal of Political Economy, April 1996, 104(2), pp. 298-345.
4. Campbell, John Y. and Shiller, Robert J. "Stock Prices, Earnings, and Expected Dividends." Journal of Finance, July 1988, 43(3), pp. 661-76.
5. Fama, Eugene and Schwert, William. "Human Capital and Capital Market Equilibrium." Journal of Financial Economics, January 1977, 4(1), pp. 95-125.
6. French, Kenneth and Poterba, James. "International Diversification and International Equity Markets." American Economic Review, May 1991 (Papers and Proceedings), 81 (2), pp. 222-26.
7. International Monetary Fund. International financial statistics. Washington, DC: International Monetary Fund, 1994.
8. OECD. Annual national accounts: Main aggregates. Paris: Organization for Economic Cooperation and Development, 1994.
9. Svensson, Lars E. O. and Werner, Ingrid J. "Non-traded Assets in Incomplete Markets: Pricing and Portfolio Choice." European Economic Review, June 1993, 37(5), pp. 1149-68.