TY  - BOOK
AU  - Schneider, Jennifer
AB  - 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.
DO  - 10.3726/978-3-653-01915-5
ID  - OAPEN ID: 1002711
ID  - OAPEN ID: OCN: 1083021842
KW  - Bias
KW  - Business
KW  - Consumption-Wealth-Linkage
KW  - Convergence
KW  - Cycle
KW  - Declining
KW  - European
KW  - Home
KW  - International Asset Pricing Model
KW  - Investors
KW  - Panel Methods
KW  - Portfolio
KW  - Portfolio Choice
KW  - Private
KW  - Schneider
KW  - Similarity
L1  - https://library.oapen.org/bitstream/id/824ada04-c500-48df-929b-d91cd25d9dc0/1002711.pdf
LA  - English
LK  - http://library.oapen.org/handle/20.500.12657/27301
PB  - Peter Lang International Academic Publishers
PP  - Bern
PY  - 2013-12-04
SN  - 9783653019155
TI  - European Business Cycle Convergence : Portfolio Similarity and a Declining Home Bias of Private Investors
ER  - 
