International stock market equilibrium with heterogeneous tastes

Article Abstract:

The Arrow-Debreu markets model is used to analyze portfolio choice in international trading in commodities and equities in a dynamic and multicommodity setting. Results demonstrate that with heterogeneous countries, general equilibrium considerations can have strong implications for portfolio decisions. One empirical implication is that observed bias against foreign equities tends to short such equities. This tendency is also likely to occur as world capital markets integrate and as costs of international equity transactions decline.

Securities & Commodities Exchanges, Securities and Commodity Exchanges, Security and commodity exchanges, Analysis, Stock-exchange, Stock exchanges, International trade, Commodity exchanges

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Can rational expectations sticky-price models explain inflation dynamics

Article Abstract:

The use of economic development evaluation models for evaluating inflation scenarios is discussed.

United States, Models, Usage, Evaluation, Inflation (Finance), Inflation (Economics), Economic development models

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