Template-type: ReDif-Paper 1.0
Author-Name: Holinski Nils 
Author-Name: Kool Clemens 
Author-Name: Muysken Joan 
Author-workplace-name: METEOR
Title: Taking Home Bias Seriously: Absolute and Relative Measures Explaining Consumption Risk-Sharing
Abstract: Recent empirical work shows that ongoing international financial integration facilitatescross-country consumption risk sharing. While these studies employ absolute measures toaccount for a country''s integration in international capital markets, we devise a relativemeasure that captures the geographical composition of a country''s international portfolioinvestments. Using panel-data regression for a group of OECD countries during the financialglobalization period 1980-2005, we show that the geography of international portfolios helps to explain the degree of consumption risk-sharing obtained.
Keywords: Economics (Jel: A)
Series: Research Memoranda
Creation-Date: 2008
Number: 025
File-URL: http://digitalarchive.maastrichtuniversity.nl/fedora/objects/guid:b3c5dc30-06d4-4452-a1b6-064b9e245353/datastreams/ASSET1/content
File-Format: application/pdf
File-Size: 172658
Handle: RePEc:unm:umamet:2008025