1002711.pdf
Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment portfolios....
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Peter Lang International Academic Publishers
2019
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oapen-20.500.12657-27301 |
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oapen-20.500.12657-273012022-04-26T11:15:55Z European Business Cycle Convergence Schneider, Jennifer Bias Business Consumption-Wealth-Linkage Convergence Cycle Declining European Home International Asset Pricing Model Investors Panel Methods Portfolio Portfolio Choice Private Schneider Similarity bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCA Economic theory & philosophy bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCK Behavioural economics bic Book Industry Communication::K Economics, finance, business & management::KJ Business & management Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment portfolios. The idea is that financial portfolio choice has an impact on business cycles and contributes to convergence via the consumption-wealth linkage. The background of the analysis is the International Asset Pricing Model (IAPM). The results of fixed effects GMM TSLS estimations confirm the linkage. The effect is higher for country-pairs that are built by one euro area member and one member outside the euro area. 2019-01-10 03:00:33 2020-04-01T11:48:30Z 2020-04-01T11:48:30Z 2013-12-04 book 1002711 OCN: 1083021842 9783653019155 http://library.oapen.org/handle/20.500.12657/27301 eng Hohenheimer volkswirtschaftliche Schriften application/pdf n/a 1002711.pdf Peter Lang International Academic Publishers 10.3726/978-3-653-01915-5 10.3726/978-3-653-01915-5 e927e604-2954-4bf6-826b-d5ecb47c6555 9783653019155 69 218 Bern open access |
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OAPEN |
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English |
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Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment portfolios. The idea is that financial portfolio choice has an impact on business cycles and contributes to convergence via the consumption-wealth linkage. The background of the analysis is the International Asset Pricing Model (IAPM). The results of fixed effects GMM TSLS estimations confirm the linkage. The effect is higher for country-pairs that are built by one euro area member and one member outside the euro area. |
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1002711.pdf |
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Peter Lang International Academic Publishers |
| publishDate |
2019 |
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1771297588321976320 |
