Data limitations
Empirical Model:
Data set construction:
Panel of non-overlapping...changes in mean GDP growth
Random effect estimation
Robust regression
...
Our model
• Many banks i=1,..N and two dates
• Time 0: Choice of investments &...negative externality e(W*-W1) on economy
Externality
W* = z A W1
Economic...
of open economies have been set up to model international
portfolio choices....and bond holdings within the framework of an open economy macroeconomic...
*
Any optimal model weighs cost and benefit
“Our framework builds on…from a...2007)
The paper needs to clearly identify which motive it is dealing with
The...
